“The UK labor market has been more resilient than expected,” Bank of England (BoE) policymaker Catherine Mann said on Wednesday.
Additional quotes
- Worried that household inflation expectations have increased.
- Need to see loss of pricing power by firms but goods price inflation is going up.
- There will be lower goods prices in world economy due to trade diversion.
- Companies will look for chance to rebuild margins.
Market reaction
GBP/USD holds lower ground near 1.3300 as of writing, down 0.09% on the day.