Bank of England rate setter Catherine Mann breaks ranks with gloomy inflation prediction

Restrictive monetary policy stance

Monetary Policy Committee member Catherine Mann has broken ranks to argue inflation will be higher for longer than the Bank of England’s official forecasts, according to reports.

Speaking on Monday (3 October), Mann, who is an external member of the Monetary Policy Committee, said she thought predictions published by the Bank in August overshot the impact interest rate increases have had since the current hiking cycle began in December 2021, according to Reuters. Bank of America forecasts no rate cuts for UK until 2025 due to 'entrenched inflation' In a speech hosted by Redburn Atlantic, a brokerage owned by Rothschild & Co, Mann, who has consistently pressed for higher interest rates, said: "I believe the (Monetary Policy Report) forecast, for a long time, ha...