BOE’s Mann Highlights Evidence of Embedded Inflation in UK

Bank of England rate-setter Catherine Mann said there is evidence of UK inflation becoming embedded and that price growth is taking longer to ease back than it did to jump.

Mann said research suggests that it is “better to front load your policy decisions” in a backdrop of inflation uncertainty, a contrast with the slow start to the hiking cycle agreed by the BOE’s nine-member Monetary Policy Committee 1 1/2 years ago.