BOE’s Mann: Policy needs to stay restrictive to purge inflationary behaviours

September 20, 2024
-FCHFX

September 20, 2024 at 09:08AM

It is better to remain restrictive for longer

We can cut more aggressively later once inflation risk is contained

There appears to be more upside risks to inflation in the UK

UK has seen more of an impact on services prices

Contemplated to vote to cut rates in August but wanted to avoid “boogie-dance” on rates

She also adds that she personally has a more guarded view on starting the rate cut cycle. Adding that she agrees with the view that inflation could stay above target for an extended period. It just means she won’t be siding with a rate cut, if conditions are to remain as they are presently.

This article was written by Justin Low at www.forexlive.com.

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