BoE’s Mann: UK labor market has been more resilient than expected

“The UK labor market has been more resilient than expected,” Bank of England (BoE) policymaker Catherine Mann said on Wednesday.

Additional quotes

• Worried that household inflation expectations have increased.
• Need to see loss of pricing power by firms but goods price inflation is going up.
• There will be lower goods prices in world economy due to trade diversion.
• Companies will look for chance to rebuild margins.

Market reaction

GBP/USD holds lower ground near 1.3300 as of writing, down 0.09% on the day.