- UK inflation remains persistently persistent and the outlook for growth remains modest
- I have argued that policy needed to remain restrictive for longer to squeeze out inflation persistence and rein in expectations drift
- To create an environment conducive to growth, monetary policy must remain restrictive for longer
- UK's consumption gap is an outlier relative to its closest international peers
- The evidence from consumer behaviour is that we are not there yet on inflation expectations
Mann is just repeating her previous comments here. She's the most hawkish BoE member, so her stance remains to keep rates steady. The UK has been an outlier with persistently high inflation and wage growth. The problem might lie in consumer inflation expectations.
