0956 GMT - Sterling trims its losses while U.K. government bond yields rise slightly after Bank of England official Catherine Mann suggested interest rates would need to remain high. Mann was one of two BOE policymakers who preferred a larger 50 basis-point interest-rate cut on Thursday. Speaking at Leeds Beckett University Tuesday, she said data point to a "non-linear" fall in employment. This allowed her to look past a likely near-term inflation rise, but going forward she prefers gradual rate cuts. Observed inflation volatility "likely requires a higher Bank rate than otherwise," she said. Sterling rises to $1.2379 after the comments, from $1.2351 beforehand. The 10-year gilt yield rises to 4.482%, versus 4.471% beforehand, up 3 basis points on the day, according to Tradeweb. (renae.dyer@wsj.com)
(END) Dow Jones Newswires
February 11, 2025 04:56 ET (09:56 GMT)
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