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UK may need ‘fast and forceful’ rate rises, BoE’s Mann says

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Gradual BoE rate rises have not tempered price expectations – Mann By Reuters

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Economy 10 minutes ago (Sep 05, 2022 16:51)

© Reuters. FILE PHOTO: General view of the Bank of England in London, Britain, October 22, 2021. REUTERS/Tom Nicholson

LONDON (Reuters) – Gradual increases in Bank of England interest rates have not been enough to stop an upward drift in the public’s expectations for inflation over the medium term, BoE policymaker Catherine Mann said on Monday.

“Acting more forcefully now, to ensure that the drift does not become the norm, is designed to avoid depending on a deeper and longer contraction to return inflation to target,” she said in a speech at the annual conference of Britain’s Money, Macro & Finance Society at the University of Kent.

Gradual BoE rate rises have not tempered price expectations – Mann

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