BoE's Dhingra: Overtightening poses a more material risk at this point

Bank of England (BoE) policy maker Swati Dhingra warned against further interest rate increases, in her scheduled appearance on Wednesday.

Additional quotes

Overtightening poses a more material risk at this point.

Prudent strategy would be to hold policy steady.

Many tightening effects are yet to fully take hold.

Market reaction

GBP/USD is defending minor bids around 1.1835 on the above comments. The pair is up 0.07% on the day.