Catherine Mann, a Bank of England (BoE) politician, gives evidence on the November Monetary Policy Report (MPR) before the British Parliament’s Treasury Select Committee (TSC) on Tuesday.

Key quotes

Forward-looking price and wage indices have remained stable and exceeded the target for 4 months, which increases the risk of persistent inflation.

Inflation expectations of financial markets suggest that the BoE will not achieve sustainable inflation of 2% within the forecast horizon.

The latest budget gives companies the opportunity to implement price increases that are inconsistent with the 2% inflation target.

A higher minimum wage caused companies to have problems maintaining wage differences.