LONDON (Reuters) – Bank of England Governor Andrew Bailey said on Monday that he thought the BoE’s most recent forecast for inflation, showing it was likely to fall sharply next year, remained valid.
“I always go into forecasts with an open mind, and that’s critical, but I think the basic fundamentals of that profile remain in place today,” Bailey told lawmakers.
Inflation was likely to be back at its 2% target in around two years’ time, he added.
(Reporting by David Milliken; Writing by William Schomberg)
