BOE’s Bailey: Won’t be rushed into making decisions on raising interest rates despite rising inflation

Bank of England (BOE) Governor Andrew Bailey contrasts the previous day’s comments from Deputy Governor Dave Ramsden while rejecting the rush to making decisions on raising interest rates despite rising inflation despite news of rising inflation, per Reuters.

The UK’s Consumer Price Index (CPI), published on Wednesday, rose past 2.2% YoY expectations to 2.5%.

GBP/USD stays on the recovery mode….

GBP/USD picks up bids to 1.3838, down 0.16% intraday, heading into Thursday’s London open. The news fails to defy the pair buyers as traders await UK jobs report.

Read: GBP/USD pares weekly losses above 1.3800, UK employment data, PM Johnson eyed