The signal from the 5Y5Y inflation measures is not worrisome

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Bank of England policymaker Catherine Mann, made some comments in the last hour, saying that the growth in the price of natural gas is quite extreme, but it is necessary to see if it will continue.

Additional statements:

  • What happens to the price impulse is critical in judging whether inflation is transitory.
  • The signal from the 5Y5Y inflation measures is not worrisome.
  • She expects the demand for goods to decline.
  • Financial markets have presented Bank of England adjustment perspectives until 2022.
  • This does not support the increase in inflation.
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Market reaction:

The British pound had a fairly subdued reaction to the comments and languished near multi-month lows around 1.3550 against its US counterpart.

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