Catherine Mann, a member of the Bank of England’s Monetary Policy Committee, emphasized the need for proactive interest rate hikes to combat inflation. This stance aims to tighten monetary policy preemptively amid persistent inflationary pressures. Recent inflation data, which has risen above the central bank’s target, reinforces this approach. Market expectations point to an 84% probability of a 25 basis points rate hike following the November meeting. The market assigns zero probability to a rate cut at the same meeting.
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