Bank of England Governor Andrew Bailey indicated in a Bloomberg TV interview at Jackson Hole that he does not anticipate notable second‑round inflationary pressures in the United Kingdom.
He noted, “We are observing relatively subdued second‑round effects, and the labour market has been softening for a while,” indicating a cautious, wait‑and‑see stance before the Bank of England’s policy decision on September 17.
Bailey emphasized that the Bank of England is not locked into a predetermined interest‑rate trajectory, evaluating conditions on a meeting‑by‑meeting basis, and added, “At present, we are seeing relatively muted second‑round inflation effects.”
Key highlights:
We are seeing quite subdued second‑round effects so far.
We can monitor this situation for now.
I cannot guarantee that muted second‑round effects will continue.
Pound Sterling Price Today
The table below displays the percentage change of the British pound (GBP) versus major currencies today, with the pound showing the greatest strength versus the New Zealand dollar.
USDEURGBPJPYCADAUDNZDCHFUSD0.64%0.47%0.46%0.40%0.51%0.72%0.68%EUR-0.64%-0.16%-0.15%-0.28%-0.13%0.10%0.04%GBP-0.47%0.16%0.00%-0.12%0.03%0.26%0.21%JPY-0.46%0.15%0.00%-0.08%0.03%0.24%0.19%CAD-0.40%0.28%0.12%0.08%0.11%0.32%0.28%AUD-0.51%0.13%-0.03%-0.03%-0.11%0.22%0.17%NZD-0.72%-0.10%-0.26%-0.24%-0.32%-0.22%-0.04%CHF-0.68%-0.04%-0.21%-0.19%-0.28%-0.17%0.04%
This heat map illustrates the percentage changes of major currencies relative to one another; the base currency is selected from the left column and the quote currency from the top row. For instance, choosing the British pound on the left and moving to the US dollar shows the GBP/USD exchange‑rate change.