Catherine Mann, who sits on the central bank’s rate-setting committee, also dismissed suggestions the UK could cut interest rates back ahead of the US and the Eurozone
A Bank of England policymaker has warned that financial markets are expecting “too many cuts” to interest rates this year.
Catherine Mann, a member of the bank’s rate-setting committee, also dismissed the idea that the UK could reduce interest rates before the US and the Eurozone. Just last week, Ms Mann was one of the Monetary Policy Committee members who voted to keep UK interest rates at 5.25% for the fifth time in a row.
Bank governor Andrew Bailey said that while the economy isn’t ready for lower rates yet, things are “moving in the right direction”. Currently, markets expect interest rates to drop to around 4.5% by the end of the year.
However, speaking on…
