Bank of England (BoE) policymaker Catherine Mann testifies on the November Monetary Policy Report (MPR) before the UK Parliament’s Treasury Select Committee (TSC) on Tuesday.
Key quotes
Forward-looking price and wage indicators have been flat and above target for 4 months, raising the risk of inflation persistence.
Financial markets’ inflation expectations suggest boe will not get to sustainable 2% inflation in forecast horizon.
Latest budget offers opportunity for firms to realise price increases that are inconsistent with 2% inflation target.
Higher minimum wage was causing firms problems in maintaining wage differentials.
Source: https://www.fxstreet.com/news/boes-mann-forward-looking-price-wage-indicators-raise-risk-of-inflation-persistence-202411191028