VOT Research Desk
According to Reuters, Chief Economist of the Bank of England (BoE) Huw Pill stated on Wednesday that it is likely that additional policy measures would be needed to ensure that inflation returns sustainably to the 2% objective.
In addition, Pill said he does not expect to raise the bank rate to the levels anticipated by the markets prior to the November monetary policy report.
The market value of the British pound appears to be unaffected by these comments.
As of the time of writing, the GBP/USD exchange rate was trading at 1.2055 and was up 1.43% daily.
