BoE's Mann defends MPC work as market volatility leaves committee divided on cuts

Treasury Committee hearing

Bank of England Monetary Policy Committee (MPC) external member Catherine Mann has defended her colleagues’ work on interest rates amid questions from MPs about the division in voting patterns across the committee’s board.

In a Treasury Committee hearing today (3 June), Mann said every MPC member "takes their job very seriously" and analyses the research leading to interest rate decisions thoroughly, after one MP noted the discrepancy in views between the Bank staff and its external members. Several other policymakers, including BoE governor Andrew Bailey and deputy governor for financial stability Sarah Breeden, were summoned to explain their differing views on cutting or holding interest rates to the Treasury Committee. Governor Andrew Bailey defends Bank of England in a world of 'shocks' Swati Dhi...