Bank of England (BOE) Gov Baily: Inflation remains on track to return to the 2% target, albeit more slowly than previously hoped; no rush to

Frustrated not back at inflation target and could still rise later this yea - We have the time to judge the pass through of higher energy prices to the UK economy - We're operating against a softer economy - We are not complacent at all in the inflation fight, we will come back to target but it will take longer - We'll come back to target but it'll take longer