UK Inflation Still Far Above Target Despite BoE Rate Hikes, Warns Policymaker
- BoE's Mann UK has a long way to go for inflation to be consistent with 2% target
- Inflation pressures need to ease significantly for goods and services
- UK inflation nowhere near historical relationship with 2% target
- Mann voted to raise interest rates to highest since 2008 to control inflation
- BoE worried tight labor market will create long-term inflation pressures
