Bank of England's governor Andrew Bailey said on Wednesday that today's CPI numbers showed a welcome fall below double digits in inflation, reflecting annual base effects from energy prices coming out. However, he added that the BoE has to focus on food and core inflation, which, in his opinion, is particularly important because a lot of the persistence can be in there.
Also, the British central bank's chief repeated that the BoE's commitment to bring inflation to target is absolute and that its future rate decisions will be evidence-based depending on data. Bailey noted that the question for the BoE is how sticky and stubborn is the process down for inflation.