DAVOS, Switzerland (Reuters) - The Bank of England has the ability and the duty to return usually low British inflation to its 2 percent target within the next two years, its governor said on Saturday.
"We have a very low inflation environment right now, largely due to oil prices," Carney told a World Economic Forum panel in Davos, Switzerland.
"We have the responsibility, we have the means and the will to do it and return inflation back to target within the 2 year horizon, so people can rely on that," he added.
British inflation fell to 0.5 percent in December and Bank of England officials have warned it may turn negative in the next few months, but Carney pointed to wage growth as an encouraging sign.