Mann Sees Stronger Growth as BoE Rate Hike Chances Rise

Bank of England interest rate setter Catherine Mann has expressed optimism about Britain's economic growth. Speaking in an interview, she noted that the labour market had stabilized and inflation had been stronger than expected since the central bank's last monetary policy meeting.

Mann was part of a minority of policymakers who voted to raise borrowing costs at the last meeting. She justified her decision by stating that 'the research is very clear. It's better (for interest rates) to be a little bit too high and then, of course, correct if necessary.'

Financial markets are currently pricing in a Bank of England rate hike by the end of the year, but only give a 15% chance of a hike at the Monetary Policy Committee's meeting this month.