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.

UK inflation risks have increased because of stronger than expected pay growth, a senior Bank of England rate-setter said, as he emphasised the need to proceed with “gradual” monetary policy easing.

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

Wage pressures in Britain have raised the risk of inflation holding above the Bank of England's target, the bank's Deputy Governor Dave Ramsden said on Friday, though he added that interest rate cuts did not necessarily need to be slow.

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.