Bank of England (BoE) policymaker Catherine Mann said on Monday that US tariffs are feeding into higher UK inflation through Chinese export pricing.
Key quotes
US tariffs are feeding into higher UK inflation via Chinese export pricing.
Not much trade diversion from China to the UK.
Import prices are a positive contribution to UK CPI.
Brexit continues to be a drag on the UK’s economy.
I worry about sluggishness in spending and productivity.
Market reaction
As of writing, the USD/JPY pair is up 0.56% on the day at 1.3695.