UK markets close in 2 hours 1 minute
  • FTSE 100

    7,518.47
    -2.92 (-0.04%)
     
  • FTSE 250

    18,992.39
    -107.69 (-0.56%)
     
  • AIM

    834.04
    -6.15 (-0.73%)
     
  • GBP/EUR

    1.1595
    +0.0011 (+0.09%)
     
  • GBP/USD

    1.2198
    +0.0065 (+0.53%)
     
  • BTC-GBP

    13,811.96
    -199.20 (-1.42%)
     
  • CMC Crypto 200

    395.75
    -6.05 (-1.51%)
     
  • S&P 500

    3,941.26
    -57.58 (-1.44%)
     
  • DOW

    33,596.34
    -350.76 (-1.03%)
     
  • CRUDE OIL

    74.21
    -0.04 (-0.05%)
     
  • GOLD FUTURES

    1,789.60
    +7.20 (+0.40%)
     
  • NIKKEI 225

    27,686.40
    -199.47 (-0.72%)
     
  • HANG SENG

    18,814.82
    -626.36 (-3.22%)
     
  • DAX

    14,290.08
    -53.11 (-0.37%)
     
  • CAC 40

    6,662.00
    -25.79 (-0.39%)
     

Bank of England's Mann says inflation drivers still strong

General view of the Bank of England building, in London

LONDON (Reuters) - Britain is still facing strong domestic drivers of inflation on top of the impact of surging international energy prices and the after-effects of the coronavirus pandemic, Bank of England interest rate-setter Catherine Mann said on Thursday.

"There still is a lot of momentum in the underlying drivers, domestic drivers of inflation," Mann said during a panel discussion organised by the American Enterprise Institute, a think-tank.

"So the Bank Rate rise that we announced today, as well as the potential for future increases, it is because the dynamics of domestic inflation are still quite strong."

Earlier on Thursday, the BoE raised its benchmark rate by three quarters of a percentage point to 3.0% as it sought to combat risks from an inflation rate running above 10%.

(Writing by William Schomberg; Editing by Sachin Ravikumar)