BoE’s Mann: UK wage growth is still a concern for inflation

Dhwani Mehta FXStreet

In an Economics Show podcast with the Financial Times (FT), Bank of England (BoE) policymaker Catherine Mann warned that “UK wage growth is still a concern for inflation.”

Additional quotes

Goods and services prices were set to rise again, and wage pressures in the economy could take years to dissipate.

Still concerned about upside risks to inflation despite the main rate remaining at the bank’s 2 percent target in June.

Had moved down from 10 to seven on a scale of “hawkishness” since the start of the year as price pressures eased.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

GBP/USD holds steady near 1.3450 as US-Iran strikes intensify

EUR/USD bulls remain on the sidelines as USD gains on US-Iran tensions and inflation fears

Gold keeps sight on $3,950 as the Iran war escalates

Ethereum remains fragile underneath the surface despite outperformance

Ethereum's outperformance over the past week shows it's gaining relative strength against other top cryptocurrencies, but under the surface, key metrics indicate its rise remains fragile. Between last week and Wednesday, ETH recorded double-digit gains, outperforming fellow crypto majors Bitcoin, XRP, and Solana, before the broader market began to correct on Thursday.

Bitcoin nears $65,000 as Pi Network and Pump.fun rebound

Bitcoin remains capped below its 50-day Exponential Moving Average around $65,026 on Monday. Pi Network and Pump.fun show steady recovery on Monday, outperforming other crypto assets over the last 24 hours.

-0.4%: Why the biggest CPI drop since 2020 couldn't buy back a single cut

The June CPI fell 0.4% on the month, the largest one-month decline since April 2020, dragging the annual rate to 3.5% from May's 4.2% and snapping a three-month acceleration streak. Core prices went nowhere, flat on the month and down to 2.6% YoY, both under consensus.