BoE MPC member Catherine Mann said yesterday that she’s “worrying about… underlying inflation dynamic looks pretty robust right now.” She explained that past rises in energy prices and other inflationary pressures are getting passed through higher prices of other goods and services.
“Our job is to bring that back to 2%.” She added that may require a “significant recession”. But, “getting inflation expectations under control, keeping them under control, is important.”
“Nobody likes to have higher interest rates. but nobody likes to have double digit inflation either,” Mann said.
