BoE's Mann speaking on Results of Rising Rates

BoE's Mann speaking on The Results of Rising Rates: Expectations, Lags & Transmission of Monetary Policy

Full Speech (for the purists)

BBG Note

Hawkish vibes.

Key Points:

Failing To Do Enough On Rates Now Risks The Worst Of Both Worlds - The Higher Inflation And Lower Activity

Financial Markets Have Absorbed A Substantial Degree Of The Tightening To Date

Sequence Of Shocks And Embedding Of Inflation Risks A Troubling Change In Expectations

Financial Conditions Are Now Looser Than What Likely Will Be Needed To Moderate The Embedding Of On-Going Inflation Into The Wage- And Price-Setting Paths

Further Tightening And Sooner Rather Than Later Likely Is Needed

I Worry About Extended Persistence Of Inflation Into This Year And The Next