Bank of England Deputy Governor Ramsden: as the job market weakens, inflation will fall to target levels.

Bank of England Deputy Governor Ramsden said that the UK job market has weakened, wage growth is normalizing, which leads him to believe that inflation will fall back to the Bank of England's target level. Ramsden said, "We see that as wage growth normalizes and the labor market remains loose, I believe this supports the ongoing process of core inflation continuing to slow down. This consolidates my view on inflation prospects." Ramsden added that he believes there is further room for interest rates to be cut.