BoE's Ramsden: There is a high bar for any future tightening

"We stand ready to take whatever additional action is necessary to achieve our remit of meeting the 2% inflation target," Bank of England (BoE) Deputy Governor Dave Ramsden said on Tuesday, as reported by Reuters.

Additional takeaways

"Vaccine news could bolster resilience and mitigate some of the risks of long-term scarring."

"Vaccine news encouraging but not clear it warrants an upwards revision to that forecast."

"There is a high bar for any future tightening."

Market reaction

The GBP/USD pair showed no immediate reaction to these comments and was last seen gaining 0.45% on the day at 1.3250.