BOE's Mann: Should have heightened awareness of role of sterling amid high inflation

The Bank of England (BOE) should have heightened awareness of the roles of the sterling at the time of high inflation, BOE policymaker Catherine Mann said on Thursday, as reported by Reuters.

"In the near term, tighter US monetary policy tends to boost UK inflation because of the weaker pound," Mann further elaborated. "A robust policy response to avoid near-term augmentation of inflation dynamics is appropriate in today's environment."

Market reaction

The GBP/USD pair edged slightly higher on these comments and was last seen gaining 0.5% on the day at 1.1988.