UK Finance Minister Jeremy Hunt said on Wednesday, there is “nothing automatic about bringing down inflation.”

Additional quotes

“We support Bank of England 150%.”

“I agree with people who are worried about high tax.”

“We need to get taxes down.”

“Overwhelming priority has to be lowering inflation.”

“We aren't in a position to know if we will have headroom to cut taxes before the election.”

“We will always be pragmatic on immigration.”

“I think we will get to a point where default is people will work from office unless there is a good reason, except in certain sectors.”

Market reaction

Despite the encouraging comments from Hunt, GBP/USD is losing 0.40% on the day at 1.2435, as of writing.