BoE’s Mann: I would rather err on the side of over-tightening
|Catherine Mann, member of the Bank of England’s Monetary Policy Committee, said on Monday that overtightening is easier to fix than not moving interest rates. She added that underestimating the persistence of inflation will lead to overshoot. Mann delivered a speech at the Canadian Association for Business Economics. She explained that the idea that 3% inflation is close enough can not be the guide for the BoE.