Bank of England policymaker Catherine Mann warns against excessive UK interest rate cut expectations.
Bank of England policymaker Catherine Mann warns that financial markets are pricing in too many interest rate cuts for the UK this year. Mann, a member of the Monetary Policy Committee, believes the UK economy may not need to cut rates as the market already expects them to, due to lower inflation and weaker economic conditions in other countries. She also notes that wage dynamics in the UK are stronger than in the US or the euro area and mortgage lenders have already reduced borrowing costs, lessening the need for a quick rate cut by the Bank.
March 26, 2024
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