BOE's Bailey: Inflation remains too high

• Food price inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term should ease but it remains uncertain
• Outlook for growth, unemployment has improved
• We have to stay the course
• Economic activity has been stronger than expected recently
• There has been greater resilience in the economy than what we anticipated
• We have good reasons to expect inflation to fall sharply from April
• We do see signs that food price inflation will start to slow

So far, he's just explaining their view on the economic and inflation outlook - both of which I would say markets are already well briefed upon considering the developments elsewhere and also from UK data itself. The pound is keeping little changed as he speaks, with cable still hovering around 1.2600 levels at the moment.