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“Achieving the inflation target has been a bumpy ride; it was always going to be, and that last mile is the hardest work,” stated Bank of England (BoE) Monetary Policy Committee (MPC) member Megan Greene on Wednesday. “We’re closer to the target than we were just a few months ago, so the news has been encouraging,” Greene added, expressing concern about the potential impact of an energy price shock and other supply-side shocks on inflation expectations.
Market reaction
These comments had no impact on GBP/USD, with the pair observed to be up 0.25% on the day at 1.2457.
