BoE’s Mann: Monetary policy must remain restrictive for longer | FXStreet

Bank of England (BoE) policymaker Catherine Mann said on Thursday that the monetary policy must remain restrictive for longer to create an environment conductive to growth, per Reuters.

” Inflation remains persistently persistent and the outlook for growth remains modest,” Mann added and noted that the evidence from consumer behavior shows that they not there yet on inflation expectations.

Market reaction

These comments received a hawkish score of 8.2 from FXStreet BoE Speech Tracker. Nevertheless, GBP/USD struggles to gain traction in the European session and was last seen losing 0.4% on the day at 1.3350.