Bank of England Governor Andrew Bailey thinks a renewed bout of inflation is nothing to worry about. Former policymakers are less convinced and say the central bank may need to pause its interest-rate cutting cycle.

Dave Ramsden, the Bank of England deputy governor, said the United Kingdom’s inflation risks had increased in the past few months. The policymaker revealed that inflation risks had risen due to the increased pay growth.

Bank of England Deputy Governor Dave Ramsden said on Friday that he saw risks to the BoE's inflation target as two-sided, rather than skewed downwards as before, though he noted that BoE rate cuts did not necessarily need to be slow.

Deputy governor Dave Ramsden pointed to ‘increased uncertainty’ in the UK economy in a speech on Friday, amid higher-than-expected price rises.

Deputy Governor Dave Ramsden has cautioned that inflationary pressures in the UK remain a concern, despite ongoing efforts to stabilise the economy. While the Bank of England (BoE) has adopted a measured approach to interest rate adjustments,

Dave Ramsden told the Bureau for Economic Research at South Africa's Stellenbosch University that recent data on wages was a 'concerning development.'