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MNI BRIEF: BOE Needs To Hold For Longer -- Mann

BOE MPC member Catherine Mann addresses U.S. policy changes and rate activism
Bank of EnglandGlobalCentral Bank NewsPolicy NewsCEEMEABriefUKStoryRegion

MNI (LONDON) - The Bank of England should hold rates at current levels for longer, Monetary Policy Committee member Catherine Mann said on Wednesday, adding that she would be open to rapid rate cuts once the inflation outlook permits.

Speaking at a BNP Paribas event, Mann, who has opposed rate cuts so far, said financial markets were going to incorporate upward inflation bias into their estimate of the neutral rate of interest, and that "the central bank has to lean against (that)."

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MNI (LONDON) - The Bank of England should hold rates at current levels for longer, Monetary Policy Committee member Catherine Mann said on Wednesday, adding that she would be open to rapid rate cuts once the inflation outlook permits.

Speaking at a BNP Paribas event, Mann, who has opposed rate cuts so far, said financial markets were going to incorporate upward inflation bias into their estimate of the neutral rate of interest, and that "the central bank has to lean against (that)."

Keep reading...Show less