Mann Sees UK Economic Growth Signs Amid Rate Hike Expectations

Bank of England interest rate setter Catherine Mann has expressed optimism about Britain's economic growth. Since the central bank's last monetary policy meeting, Mann notes that the labour market has stabilised and inflation has been stronger than expected.

Mann voted with a minority of policymakers to raise borrowing costs by 25 basis points in the previous meeting. According to her, '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 fully pricing a BoE rate hike by the end of the year but only estimate an approximately 15% chance of a hike at this month's Monetary Policy Committee meeting.