Bank of England rate-setter Catherine Mann warned against letting up in the fight against inflation as she disparaged the central bank’s forecasts and predicted permanently higher interest rates.
Mann, who is seen as the most hawkish rate-setter on the Monetary Policy Committee, said that interest rates have only just reached restrictive territory after the BOE halted its hiking cycle last month.
The comments explain why Mann has been consistently voting for more aggressive tightening and leave the implication that she may support more rate rises in the coming months. On Monday she reiterated that stance, saying that her own inflation forecast is at the upper end of the BOE’s fan charts showing its range of inflation projections. “I am a hawk,” she said in a speech reiterating her warnings of inflation persistence.
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