Interest rates in the UK will have to keep rising to prevent inflation sticking around for too long, a member of the Bank of England’s monetary policy committee (MPC) warned today. Catherine Mann, who joined the rate setting group in September 2021 as an external member, said at an event hosted by the Resolution Foundation that she does not think the current level of rates are “in a restrictive stance”. Mann, who has backed multiple outsized rate rises to front-load tightening, said she is concerned a “premature loosening of [financial] conditions” risks the Bank’s ten successive rate increases not sufficiently ... (full story)