BoE rate setter Catherine Mann: Macro volatility to persist over the next few years

Due to 'global economic challenges'

Bank of England Monetary Policy Committee member Catherine Mann has argued volatility in macroeconomic factors will likely stay elevated over the next few years.

In a speech at the Society of Professional Economists' annual conference in London today (14 November), Mann warned that volatility could increase due to global economic challenges, with countries likely to adopt different policies in response. According to Mann, the UK could be hit by the direct effects, and spillovers coming from other countries, with volatility potentially arising from multiple factors. These include the physical impact of climate change, the economic outcome of the net zero transition, global trade fragmentation, or the increased use of fiscal and industrial polic...