Bank of England Monetary Committee member Catherine Mann said Thursday that the rising inflation is unlikely to lead to long-term price problems for the in the U.K., while global volatility has eased the need for a gradual rate cuts. The Bank of England forecasts that consumer price inflation in the U.K. will will rise to 3.7% in the third quarter of this year, driven by one-off factors such as increases in regulated energy prices, water bills and transport fares. The Bank of England is expected to leave interest rates at 4.5% at its next meeting on March 20. These circumstances provide support for the GBP/USD pair, which however meets resistance in the previously described range: 1.2850-1.3000. Among the factors that may affect the volatility or even change the market trend: today's data. market trend: today's US data, next week's UK GDP data and the Bank of England decision. UK GDP next week and the Bank of England decision on March 20.