Speaking at the European Central Bank's (ECB) annual forum in Sintra, Portugal, the Bank of England's (BoE) governor Andrew Bailey said that if the BoE sees greater persistence of inflation, it will have to act more forcefully. The situation leaves "options on the table," he said, adding that there are circumstances where the BoE will have to do more.
Also, the BoE's governor noted that it is clear that the UK's economy is slowing, and that he is not surprised by the path of the sterling.