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Carney pledges to return inflation to 2%

Pound strengthens to a seven-year high versus the euro after Bank of England governor's comments

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Mr Carney has told a parliamentary hearing that he expects to bring inflation back on target in a reasonable time.

London

BANK of England (BOE) governor Mark Carney said that policymakers can look beyond the current bout of weak inflation as he pledged to return price growth to target "within a reasonable horizon".

"We are in a situation today where we have these one-off moves in oil prices -

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