Bank of England (BoE) policymaker Catherine Mann is testifying on the November Monetary Policy Report (MPR) before the UK’s Parliament's Treasury Select Committee (TSC) on Tuesday.
The prospects for more persistent inflation imply a need for tighter monetary policy.
Monetary policy has only recently become restrictive and not by so much.
Surveys of firms point towards inflation pressures for 2024.
More tightness in monetary policy now is important.
Need to cement commitment to 2% target.
The Pound Sterling is gaining fresh upside traction on the hawkish comments. The GBP/USD pair is trading at 1.2540, adding 0.30% so far.
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