The Business Times
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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

Published Tue, Feb 24, 2015 · 09:50 PM

    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."

    Britain

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