BOE Mann:
  • Changing expectations is the first defense against a reinforcing wage-price dynamic
  • If the effects of supply-demand imbalances in 2021 continue, we coudl see another jump in wages and prices in 2022
  • To the extent that global inflation underpins UK domestic inflation, monetary policy's reaction would have to be more severe than appropriate for domestic conditions alone
  • Inflation data since November haven't been consistent with stabilization
  • To the extent that financial markets are already cautioning decisions, the next steps could exhibit a shallower path

Some important comments here but some are more-hawkish and some less.