Bank of England (BoE) Governor Andrew Bailey said on Friday that he doesn’t see significant second-round inflation effects in the UK, in an interview with Bloomberg TV at the Jackson Hole Symposium.

Bailey stated, “We’re seeing quite subdued second-round effects, I think we’ve seen a softening labour market for some time now,” suggesting that he is in a wait-and-see mode, ahead of the BoE’s monetary policy on September 17.

Bailey stressed that the BoE is not pre-committed to an interest rate path, assessing the economic situation meeting by meeting, adding that “We are seeing, at the moment, relatively muted second-round inflation effects.”

Key highlights:

WE ARE SEEING QUITE SUBDUED 2ND ROUND EFFECTS SO FAR

WE CAN WATCH THIS SITUATION FOR NOW

I CANNOT PROMISE THAT MUTED 2ND ROUND EFFECTS WILL CONTINUE

Pound Sterling Price Today

The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the strongest against the New Zealand Dollar.

USD EUR GBP JPY CAD AUD NZD CHF
USD 0.64% 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%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote).

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Shin John
Shin JohnYtv Market News
Share-market news writer and analyst with deep experience covering equities, commodities, forex, and cryptocurrencies for readers in the USA, UK, Canada, and Australia. Ytv Market News delivers timely market updates, practical trading insights, and clear explanations of macro and company-level catalysts that move prices. Combines on-the-ground financial reporting with technical analysis, using concise charts and actionable ideas to help investors and traders make smarter decisions.