Bank of England policymaker Catherine Mann stated that she would be ready to vote for a rate rise if higher inflation expectations make it less likely that inflation will return to its 2% target.
Inflation Outlook
A BoE survey of the public’s expectations for inflation hit a record high in May, but last month the BoE trimmed its own forecast for later this year to a little above 3.25% compared with 3.6%-3.7% it predicted in April.
Mann said she had held off voting for a BoE rate rise so far because the Iran war had pushed up market interest rates in Britain, offsetting inflation pressures, but will look at how rising inflation affects early discussions for 2027 wage deals.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
