BoE's Mann: We need to see sustained slower service inflation

Joshua Gibson FXStreet

Bank of England (BoE) Monetary Policy Committee member Catherine Mann noted on Wednesday that overall progress on inflation has been "touch-and-go", and warned of a potential rebound in headline inflation figures.

Key highlights

The supply side of the economy is growing very slowly, I still see labour market tightness.

Wage growth is still far away from being constistent with the inflation target.

We need to see sustained slower service inflation.

Until I see some deceleration in services prices, I'm not in a position to cut.

The 2% inflation we see now is a touch and go, it will be above 2% for the rest of the year, that matters for my decision making.

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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