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Mann: Inflation expectations, inflation persistence, and monetary policy strategy
At its meeting last month, the Monetary Policy Committee came together to deliver on its pledge that it would react forcefully in response to more persistent inflationary pressures. A large majority agreed that this condition had been met and that we were indeed seeing persistence so the hike by a half percentage point was the appropriate course of action at that meeting. This sends a strong signal that the MPC is committed to leaning against domestic inflation pressures becoming further entrenched. Now, some commentators have pointed out that the MPC’s central forecast projects a pro-longed recession over the next ... (full story)
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BANK OF ENGLAND'S MANN SAYS CREDIBILITY OF MONETARY POLICY IS INTACT
— *seven (@sevenloI) September 5, 2022
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BOE'S MANN SAYS THE GRADUAL PACE OF INCREASE IN BANK RATE HAS NOT TEMPERED EXPECTATIONS ENOUGH
— *seven (@sevenloI) September 5, 2022
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BOE'S MANN SAYS THIS HAS THE POTENTIAL TO CEMENT EXPECTATIONS INCONSISTENT WITH THE 2% TARGET WHICH WOULD NECESSITATE A PERSISTENTLY TIGHTER STANCE OF MONETARY POLICY
— *seven (@sevenloI) September 5, 2022
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BOE'S MANN: TO AVOID INFLATION, WE MUST ACT FORCEFULLY NOW.
— Breaking Market News (@financialjuice) September 5, 2022