BOE's Mann: My views on interest rates are not about defending sterling

Bank of England (BOE) policymaker Catherine Mann said on Monday that her views on the BOE's rate outlook were not about defending the British pound, as reported by Reuters.

BOE's Mann: 50 bps hike reduces risk of inflation being boosted by weaker sterling.

"There is an important difference of view on the Monetary Policy Committee (MPC) on the resilience of UK consumption," Mann added. "Since the May MPC meeting, I have become more concerned about the embeddedness of UK inflation and price expectations."

Market reaction

GBP/USD continues to fluctuate in its daily range and was last seen posting modest gains at 1.2245.