BoE MPC member Catherine Mann said, “to me, the data was still showing very robust (inflation) expectations and I thought it was important to dampen those expectations using a 50 basis point increase.”
“There was very little in the data that showed any diminution of expected wage increases, expected price increases or for that matter in financial markets … other than in gilts,” she added.
Mann was among the four policymakers who voted for a 50bps at last BoE meeting, which lost to a 5-4 vote.
