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Little surprising in Mann's speech - potential for her to slow to 25bp in March

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  • Little surprising in the Mann speech. She's been the most hawkish MPC member for some time. Her vote of 50bp in line with the wider MPC last week doesn't really mean she now represents the views of the wider Committee, and it is not surprising that she still sees the next move in rates to be higher.
  • Note that Mann did not use the word "forceful" anywhere in her speech. It probably would have been a surprise if she did given the change in the MPC's collective language last week, but it also means she may also only back a 25bp hike in March rather than 50bp.
  • The MNI Markets team continues to look for another 25bp hike in March, in line with the consensus view.

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