Andrew Bailey, Governor of the Bank of England, comments on the policy outlook and responds to questions from the press following the Bank of England's (BoE) decision to hike the policy rate by 25 basis points to 5.25% in August.

"Economy is more resilient, I would not use words like 'pain' to describe policy impact."

"We hope we can deliver the path we expect with no recession, we will have to see."

"June interest rate rise was passed pretty much in full to sight deposits, unlike before."

"Public should feel they can shop around for deposit interest rates, transparency is important."

"Latest news on pass-through of rates to deposits is encouraging, but I can't say it's done."

Source : FX Street