Inflation in the remains "too high" as they face second-round effects, Bank of England Chief Economist Huw Pill said on Thursday, per Reuters.

Additional takeaways

"No room for complacency on inflation."

"There are cases for caution on inflation despite fall in headline rate."

"Some indicators of inflation have developed less benignly of late."

"There is a lot of policy in the pipeline to come through."

"We need to see the job through on inflation.",

"We need to ensure we do enough on policy."

"There is the possibility of doing too much to fight inflation."

"Policy must be sufficiently restrictive for long enough."

Market reaction

Pound Sterling showed no immediate reaction to these comments. As of writing, GBP/USD was down 0.15% on the day at 1.2700.