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MNI VIEW: Mann unlikely to vote for a cut any time soon, but bar does seem lower

BOE
  • To sum up, Mann still says that markets are pricing too many cuts and that the market is doing the work for her so she doesn't need to vote for a cut (with lower mortgage rates from downward sloping curve etc).
  • Her comments were definitely on the hawkish side (but that was to be expected) but she didn't explicitly say that rate cuts weren't appropriate here, just that markets expected too much.
  • Still wouldn't be expecting her to be voting for a cut any time soon here, but the bar does seem lower than previously.
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