New BOE MPC member Mann: We must not be premature with tightening monetary policy

Author: Adam Button | Category: Central Banks

Catherine Mann is the new external MPC member

Former Citi global chief economist is offering up some early comments on her outlook after being appointed to a six-year term at the MPC on June 22.

  • Inflation forecasts in 2023 and 2024 show a dramatic fall
  • After financial crisis there were also concerns about rising inflation and debt sustainability. Lessons show there was never a recovery of lost GDP
  • I do not see an inflation spiral
  • We must not be premature with tightening monetary policy
  • Most forecasts do not foresee labor market tightness matching GDP growth
  • Price momentum has come off the top
  • We don't want to be in a situation again with permanent losses seen after the global financial crisis

She sounds like another general fighting the last war.

Catherine Mann is the new external MPC member

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