More from BOE's Pill saying:

  • Chances of inflation becoming more embedded in the UK is greater than continental Europe
  • Monetary policy tighetening is having an impact
  • Still a lot to come through
  • We will do whatever we need to do to get inflation back to target sustainably
  • We have to guard against doing too much with monetary policy
  • We are reaching a point where it concerns on our minds
  • We haven't quite gotten to a point for discussion about rates at turning point

Meanwhile UK CPI inflation is up at 10.5% with core inflation at 6.3%. The next CPI data will be released on February 15th