Bank of England (BoE) Monetary Policy Committee (MPC) member Megan Greene said on Thursday that the inflation persistence has waned since she joined the MPC last July, per Reuters.
Key takeaways
"I think the burden of proof needs to lie in inflation persistence continuing to wane."
"Data released ahead of our next meeting will give a clearer indication of how far along the last mile we have come."
"While I think excess labour hoarding has faded from its peak, it still poses a two-sided risk to our outlook."
Market reaction
These comments failed to trigger a noticeable market reaction. At the time of press, GBP/USD was down 0.22% on the day at 1.2660.
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