Bank of England (BOE) policymaker Catherine Mann said on Thursday that price and wage dynamics in the UK were not consistent with the 2% inflation target but noted that they were not observing a wage-price spiral, as reported by Reuters.
"The BOE has communicated effectively that rates need to rise and that market expectations before the November meeting were too high," Mann added.
GBP/USD preserves its bullish momentum and trades near 1.2150 after these comments, rising 0.8% on a daily basis.
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