Lates News

Bank of England monetary policy committee member Catherine Mann has stated that the borrowing costs should be kept at their current level for a longer period of time to prevent persistent high inflation in the UK. In a speech delivered in Mexico on Tuesday, Mann said that given her underlying assumption that high price pressures will last longer, "it is appropriate to sustain the benchmark interest rate for longer." Mann is one of the most hawkish voices within the Bank of England and was one of the four rate setters earlier this month who opposed lowering the benchmark interest rate by 25 basis points.