3/24, 4:29 PM (Source: TeleTrader)
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BoE's Mann opted for 25 bps hike due to lower inflation expectations

Bank of England Monetary Policy Committee member Catherine Mann stated on Friday that subsiding inflation expectations were what "partially" drove her to vote for a quarter of a percentage point interest rate increase at the central bank's latest meeting.

The fall in these figures led her to believe that the effect of BoE's monetary policy is finally showing, Mann said during a panel discussion organized by the University of South Florida. Nonetheless, she stressed that there is more to come when it comes to policy tightening.

Previously, the Bank of England announced that it will raise its key interest rate by 25 basis points, projecting that there will be a significant fall in the rate of inflation during the second trimester of 2023.

Baha Breaking News (BBN) / AY