"Achieving inflation target has been a bumpy ride, it was always going to be and that last mile is the hardest work,"Bank of England (BoE) Monetary Policy Committee (MPC) member Megan Greene said on Wednesday.

"We're closer to target than we were just a few months ago, so the news has been encouraging," Greene added and noted that she is worried about what an energy price shock and other supply side shocks might do to inflation expectations.

Market reaction

GBP/USD showed no reaction to these comments and the pair was last seen rising 0.25% on the day at 1.2457.