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Mann does not sound close to voting for a cut

BOE
  • Mann does not sound close to voting for a cut at first glance looking over her speech. She says that "financial conditions had eased too much already" and that the market was pricing in "numerous" cuts and mortgage rates were reducing. She also notes that "historical trends also are at risk from structural changes" noted globalization and a tighter labour market as well as stating that she was concerned about "evidence of upward bias by firms when they set their prices and how that might interact with upside risks to inflation from energy shocks."
  • Those are not comments from someone who sounds as though they are considering voting for a rate cut any time soon.
  • She also notes that the decision "was not easy... but necessary to keep inflation decelerating in a durable way towards the 2% target and stay there."
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