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- BoE's Mann: We need to see sustained slower service inflation
BoE's Mann: We need to see sustained slower service inflation
Bank of England (BoE) Monetary Policy Committee member Catherine Mann noted on Wednesday that overall progress on inflation has been "touch-and-go", and warned of a potential rebound in headline inflation figures.
Key highlights
The supply side of the economy is growing very slowly, I still see labour market tightness.
Wage growth is still far away from being constistent with the inflation target.
We need to see sustained slower service inflation.
Until I see some deceleration in services prices, I'm not in a position to cut.
The 2% inflation we see now is a touch and go, it will be above 2% for the rest of the year, that matters for my decision making.
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