BoE's Mann fears Red Sea turmoil could worsen UK inflation outlook

LONDON, Feb 8 (Reuters) - Bank of England rate-setter Catherine Mann said on Thursday she worried that supply chain disruption from turmoil in the Red Sea could quickly feed into companies' pricing, exacerbating Britain's inflation problem.

"I worry that such an upward inflation shock coming on the heels of the recent high inflation environment will be more swiftly incorporated into firms' costs and prices, exacerbating upside momentum," Mann said in a speech to the Official Monetary and Financial Institutions Forum (OMFIF).

Reporting by Andy Bruce and Suban Abdulla; editing by David Milliken

Reuters

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

off-the-wire

BoE's Mann fears Red Sea turmoil could worsen UK inflation outlook

By Reuters

Reuters

Reuters

Solid price gains for gold, silver after busy news weekend

‘Biggest economic shift since Nixon’: Major U.S. monetary policy changes coming in 12-36 months – Jack Mallers

Gold is never going back to $2,000: 'That's history,' prices to 3x from here – Peter Schiff

India joins South Africa in denying BRICS currency plans after Trump’s 100% tariff threat

CPI, ECB rate decision could be the catalyst gold needs, with $2,708 the key resistance – StoneX’s Razaqzada