London, Nov 21 Reuters The British pound hit a 10week high against a weaker U.S. dollar on Tuesday as Bank of England Governor Andrew Bailey reiterated that the central bank39;s stance on interest rates did not need changing.

Bailey told the British parliament39;s Treasury Select Committee that inflation was on track to get back to the central bank39;s 2 target but there were risks that price growth could get stuck at a high level, adding that risks were on the upside.

Bailey on Monday said it was far too early to be thinking about rate cuts.

At the same hearing, Catherine Mann, one of the more hawkish members of the Bank of England39;s Monetary Policy Committee, said she favoured further tightening to ensure inflation returns to target.

Mann was in the minority when she voted to raise the Bank Rate by 25 basis points in November, a decision that saw the BoE hold rates at a 15year peak of 5.25 for a second consecutive meeting.

They the Bank of England are trying to retain the option to hike again if needed and at a minimum delay markets preemptively pricing any easing, said Simon Harvey, head of FX analysis at Monex Europe.

The pound was last up 0.2 against the dollar at 1.2528, having earlier touched its highest level since Sept. 6 at 1.25535.

Sterling was also up 0.2 at 87.33 pence per euro .

Attention was also on Wednesday39;s Autumn Statement where British finance minister Jeremy Hunt is scheduled to announce changes to fiscal policy aimed at boosting the…