Inflation of paramount importance: BoE's Tucker

A senior Bank of England official has underlined the institution's "overriding" commitment to its 2% inflation target.

"The Monetary Policy Committee's strategy to date has been clear: to offset part but not all of the shock to demand consistent with an overriding determination to maintain medium-term inflation expectations anchored to the 2% target," Paul Tucker, the executive director responsible for markets at the Bank, said in remarks made in late April but not published until Friday.

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