BANK of England (BOE) 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, who is the bank's deputy governor for markets and banking, pointed to the combination of rising inflation and weak economic growth.

Increased uncertainty suggests that the Bank is likely to reduce interest rates more gradually, the policymaker cautioned.

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.

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,