BOE’s Saunders: Pass through from GBP’s depreciation over the last 18 months is far from over

Key quotes from the BOE MPC member Saunders’s testimony before the Treasury Select Committee (TSC) on the inflation report are found below.

“CPI inflation is likely to rise a little above 3.0% (y/y) near term, lifted by recent increases in energy prices.”

“Pass through from sterling’s depreciation over the last 18 months is far from over.”