US Federal Reserve (Fed) Governor Lisa Cook said on Wednesday that risks are skewed toward higher inflation, adding that she’s optimistic about inflation's path yet cautious and vigilant.
The Pound Sterling drops against the US Dollar on Wednesday, and it remains trading below the 1.3700 figure, posting losses of 0.23% as traders wait for the Bank of England’s monetary policy decision.
Inflation in the Euro-area has decreased to 1.7% y/y in January, while core inflation remains stable at 2.2%. ECB is expected to maintain its current policy stance due to the calm inflation outlook, despite some uncertainty from volatile energy prices.