BOE's Ramsden: Voted to raise rates because labour market is getting tighter

Bank of England (BoE) Deputy Governor Dave Ramsden explained on Friday that he voted to raise rates because he saw the labour market getting tighter, as reported by Reuters.

"I wanted to ensure that once we are past the transitory phase we don't see inflation expectations getting dislodged," Ramsden added. "I felt I had enough information on the labour market."

Market reaction

These comments don't seem to be having a significant impact on the British pound's performance against its major rivals. As of writing, the GBP/USD pair was down 0.35% on the day at 1.3450.