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...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
