Bank of England Chief Economist and Monetary Policy Committee member Huw Pill said on Friday that we should not anticipate rate hikes will be aggressive in the medium-term, according to Reuters.  

Market Reaction

There has not been any notable reaction to the latest cautious comments from Pill, with GBP/USD continuing to consolidate in the mid-1.3500s as US labour market data is eyed and EUR/GBP continuing to trade close to six-week highs in the 0.8450 area.