The external member of the Bank of England's Monetary Policy Committee, Mann, stated that the country's inflation rate still has "huge persistence" and reiterated her opposition to interest rate cuts.
On Thursday, Mann reiterated her hawkish stance on monetary policy at a Brown Brothers Harriman event, stating that a 100 basis point rate cut within the next year would be "too aggressive," and "I still see a huge persistence in domestic inflation trends."
She emphasized: "You must maintain a longer period to assess the potential persistence in the economy and eliminate structural factors as much as possible. These rigid factors exist, and it is important to eliminate them. When I decide to make adjustments, I will make larger adjustments to bank rates when the situation is clear."
She stated that the recent UK GDP data is "not very strong."