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Mann Repeats BoE View for CPI to Return to Target End-24

BOE
  • Conference with BoE's Mann kicking off now - she starts with presentation slides (Q&A will follow at the end of the event).
  • Says her presentation is based on the May assessment for policy, but will contain some updated material also.
  • Repeats that BoE does not project a recession, but acknowledges "not great level" of growth, and that some subsets of the population will find it difficult.
  • On inflation, she repeats expectation that CPI exp. At "around 7%" by mid-year, and 2% target by end-24. Nothing new here, but acknowledges recent reads have been higher than expected.

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