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MNI BRIEF: BOE Mann: Views Next Move More Likely Hike Than Cut

(MNI) London

BOE Monetary Policy Committee member Catherine Mann says that the turning point in policy is uncertain but she sees the next rate move more likely a hike than a cut

The Bank of England Monetary Policy Committee should not adopt a 'wait-and-see' approach and that is should be ready to hike further, Catherine Mann said Monday. The BoE forecasts published this month suggest that little further tightening if any is needed to get inflation back to target, but Mann argued that uncertainty over where the turning point is and the outlook did not justify policy inaction. (MNI BOE WATCH: BOE Hikes By 50, "Watchful" On Inflation)

Mann said she wanted to see a sustained deceleration in underlying inflation measures and a fall in inflation expectations.

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The Bank of England Monetary Policy Committee should not adopt a 'wait-and-see' approach and that is should be ready to hike further, Catherine Mann said Monday. The BoE forecasts published this month suggest that little further tightening if any is needed to get inflation back to target, but Mann argued that uncertainty over where the turning point is and the outlook did not justify policy inaction. (MNI BOE WATCH: BOE Hikes By 50, "Watchful" On Inflation)

Mann said she wanted to see a sustained deceleration in underlying inflation measures and a fall in inflation expectations.

Keep reading...Show less