rate hikes would be gradual and limited

At the BOE’s inflation report hearings before Parliament’s Treasury Committee, BOE’s Chief Economist Andy Haldane said:

   •  Risks in latest BOE projections to the upside
   •  Heightened Brexit uncertainty would be downside risk
   •  Potential for greater than forecast global momentum

Meanwhile, the GBP/USD pair was unfazed by the latest comment by influential MPC members but has managed to recover some of the early lost ground, primarily on the back of some US Dollar weakness.

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