BoE's McCafferty: Big pick-up in inflation is not something we can ignore

In an interview with LBC Radio, BoE Policymaker Ian McCafferty said that the big pick-up in inflation was not something that they could ignore.

Key quotes (via Reuters):

• Clear that there has been some modest loss of momentum in UK economy in H1
• Surveys suggest companies getting on with business after election
• Interest rates will remain much lower than levels prior to the financial crisis
• Banking sector in China is one of biggest risks to UK economy