BoE’s Mann: Better to remain restrictive for longer

Bank of England (BoE) policymaker Catherine Mann said on Friday that “it is better to remain restrictive for longer.”

Additional quotes

We can cut more aggressively later once inflation risk is contained.

There appears to be more upside risks to inflation in the UK..

UK has seen more of an impact on services prices.

Contemplated to vote to cut rates in August but wanted to avoid "boogie-dance" on rates.

Market reaction

Despite the hawkish remarks from the BoE official, GBP/USD struggles at around 1.3300, up 0.12% on the day.