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Mann asked if she is defending the pound

BOE

Question: How much do you worry about how the market takeaway from the speech is to raise rates to help support the pound, how will you communicate the message?

Mann: I don't see this as defending sterling, that's not what we're doing. If you compare these scenarios, sterling is more volatile, what we are doing would increase volatility in the model so is not consistent with defending. Currencies are always a summary statistic of much more fundamental variables. From those two angles, I don't see that some would infer that what I am doing with this model is defending sterling.

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