BoE's Bailey: Must use tool of interest rate rises carefully

"I can't tell you whether we're near to the peak, I can't tell you whether we are at the peak," Bank of England (BoE) Governor Andrew Bailey told the UK parliament's Treasury Select Committee (TSC) on Tuesday. 

"I think we are nearer to the peak than we were," Bailey concluded and reiterated that they must use the tool of interest rate rises carefully.

Market reaction

These comments don't seem to be having a significant impact on Pound Sterling's valuation. As of writing, GBP/USD was down 0.4% on the day at 1.2388.