BOE's Mann: UK data and surveys have remained positive since May's BOE forecasts

• Wage increase of 4% would make it a challenge to return CPI to 2%
• Upside surprises since May have been in core goods and food prices
• There is still a question in my mind about how tight UK financial conditions really are
• Monetary policy is not good a fine tuning and should focus on inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term

Central bankers had thought there would be much more of a slowdown by now but it's not materializing. The risk is that they hike too hard and next year --as pent up savings and demand run out -- that the bottom falls out.

Cable is down 57 pips to a session low at 1.2511.