BoE's Catherine Mann optimistic on inflation hump

Following central bank's cut last week

Monetary Policy Committee member Catherine Mann has revealed why she switched to a dovish stance at last week's rate-setting meeting when she voted for a 50-basis point reduction.

On Thursday (6 February), the Bank of England reduced interest rates by 25 bps, lowering them from 4.75% to 4.5%, signalling a 20-month low. In a speech at Leeds Beckett University today (11 February), Mann described herself as an "activist" policymaker having not previously voted for a rate cut during the current cycle, as she does not favour a gradual approach to lowering rates. BoE adopts 'dovish tilt' in interest rate cut amid inflationary concerns ahead "The main uncertainty that I have worried about is the propagation of shocks into non-linear and asymmetric dynamics in the i...