Bank of England Governor Andrew Bailey expressed caution over declaring victory against inflation, noting that the risks of persistent inflation appear to be diminishing, although he emphasized the need for restrictive monetary policy to remain in place until inflation stabilizes at the 2% target. Meanwhile, European Central Bank Chief Economist Philip Lane stated that the ECB's goal of returning to a 2% inflation target is not yet secure, requiring a continued restrictive monetary stance while also warning against prolonged high rates that could lead to below-target inflation. ECB Governing Council member Olli Rehn supported the case for a potential rate cut in September, citing a slowdown in inflation and weakness in the euro-zone economy. Both central banks are navigating the complexities of post-pandemic economic recovery and inflationary pressures, balancing the need for monetary policy adjustments with economic growth considerations. The overall sentiment from both the BoE and ECB reflects a careful approach to future interest rate decisions amidst fluctuating economic indicators.