The most "hawkish" member of the Bank of England: The risk of weak demand outweighs the risk of inflation, supporting significant interest rate cuts

ChainCatcher news, according to Jin Shi reports, Bank of England monetary policy committee member Mann stated that she supported a significant interest rate cut of 50 basis points last week because she believes that as consumers reduce spending, businesses find it difficult to raise prices.

Mann indicated that the demand situation is much weaker than before, which suggests that further easing of policy may be needed, as weak pricing power will seep into lower inflation. Mann was originally one of the most "hawkish" members, having opposed rate cuts last year due to ongoing inflation risks. But now she says the situation looks different. "To some extent, we can convey what we think is the appropriate financial condition for the UK economy; in my view, a larger (rate cut) move is a better means of communication," Mann stated.