BoE's Mann
BOE's Mann is speaking and says:
- Supply side of the economy is growing very slowly
- Sees labor market tightness.
- Says that wage growth is still far away from being consistent with the inflation target
- We have to see disciplining of service sector price growth.
- On rate cuts Mann says that until I see some deceleration in services prices, I am not in a position to cut rates
- 2% inflation we see now is a touch and go. Inflation will be above 2% for the rest of the year
