Mann asked on why the MPC doesn't communicate in reference to neutral rate

Question from Jan Vlieghe: Lots of CBs have communicated in terms of neutral rate and where we want to be versus that neutral rate. Some have communicated they want to be above neutral rate, or get close to neutral rate. Why has the MPC not done this?

Mann: We have not given the path that rates will peak above neutral. But the market path we use includes a reversal in the path, according to market participants. Can derive from the individual votes from members what their views are and it is the democracy of one person, one vote that will ultimately outline the policy path going forward. I gave a pretty clear outcome of what I think will happen, and also in previous speeches gave an outline on what are the difficulties on putting a number on the neutral rate / r*.