Bank of England Monetary Policy Committee member Mann: Ready to raise interest rates if inflationary pressures persist

Golden Ten Data reported on July 2 that Bank of England Monetary Policy Committee member Mann stated that if inflation expectations and other price warnings do not improve later this year, she is prepared to take "proactive" rate hike measures. She said she currently supports keeping the interest rate unchanged at 3.75%, but warned that inflation could become embedded in prices. She will closely monitor data in the second half of this year to guard against rising prices affecting wage agreements and inflation expectations. She said: "The trend in energy prices, changes in profit margins, and the basis for wage negotiations in 2027 will be crucial in determining whether current cost pressures become further embedded in prices." "I believe that if outcomes are unfavorable to the underlying inflation process, proactive rate hikes can steer both inflation expectations and actual results toward the 2% target."