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Bank of England Official on Inflation's Hidden Path
19 Feb
Summary
- Inflation data published this week was positive, according to Catherine Mann.
- Mann expressed uncertainty about the sustainable inflation trend.
- The Bank of England hoped for more improvement in underlying figures.
Recent inflation data for Britain has been described as "good numbers" by Bank of England interest rate-setter Catherine Mann. Despite this positive outlook on the headline figures, Mann indicated that the underlying improvements in the economy had not met the central bank's expectations.
Speaking in an interview published on Thursday, Mann expressed a degree of caution. She elaborated that precisely determining the sustainable or underlying trend rate of inflation remains challenging for the Bank of England.
Mann also raised questions about the longevity of projected inflation figures. She is uncertain whether the anticipated 2% inflation rate in the coming months represents a stable and sustainable level for the economy.
