There is "considerably more doubt" over when future interest rate cuts can take place, the governor of the Bank of England has said.
Andrew Bailey told a committee of MPs that the risks around inflation had gone up and he was "more concerned" about weakness in the labour market.
Bank staff projections expect the main consumer prices index measure of inflation to rise to 4% this year - double the 2% target rate - from its current level of 3.8%.
On the prospects for further interest rate reductions this year he said: "There is now considerably more doubt about when and exactly how quickly we can make those further steps. That's the message I wanted to get across."
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He was speaking after the Bank's split vote last month that resulted in a quarter point reduction for Bank rate to 4%.
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