March 21, 2017 / 12:08 PM / a year ago

BoE's Carney on inflation: don't overreact to one month's data

LONDON, March 21 (Reuters) - Bank of England Governor Mark Carney said it was important not to overreact to economic data for a single month after figures showed earlier on Tuesday that inflation rose by more than expected in February.

Consumer price inflation hit 2.3 percent last month, shooting past the BoE’s 2 percent target and its strongest in nearly three-and-a-half years.

“Look, (it’s) a single data point. You never overreact to a single data point,” Carney said in response to a question on the inflation figures at a panel discussion in London on banking conduct standards.

Sterling hit a three-week high after the data was published and government bond prices fell as investors priced in a steeper path for BoE interest rates in the coming years. (Reporting by David Milliken; Writing by Andy Bruce; Editing by William Schomberg)

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