On Wednesday, Bank of England (BoE) Deputy Governor Sarah Breeden expressed less concern regarding the necessity of tightening the bank rate, as reported by Reuters.

Breeden stated, “My focus has shifted to considering the duration rates should remain at their present level,” emphasizing the need for additional evidence to assure that the UK economy is advancing according to the BoE’s projections.

In response to these remarks, there was no immediate reaction observed in the GBP/USD pair, which was last seen climbing 0.17% on the day to 1.2620.