Carney pledges to return inflation to 2%
Pound strengthens to a seven-year high versus the euro after Bank of England governor's comments
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 - energy prices more broadly - and food prices that are principally driving inflation down and will likely bring it further down towards zero and possibly below," Mr Carney told lawmakers in a parliamentary hearing on Tuesday in London. "We can look through that."
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