BOE’s Mann Says Policy is Loose, Backs Holding Rates for Now (1)

UK monetary policy is “relatively loose” and interest rates need to remain on hold, according to Bank of England official Catherine Mann.

Speaking in an interview with Bloomberg TV on Wednesday, Mann warned of the threat from high household inflation expectations and said US tariffs are yet to weigh on price pressures in the UK.

“Policy is relatively loose compared to what the balance of inflation prospects is relative to activity,” she said. “Rates being on hold is appropriate for the current period. I would not see that tighter rates is appropriate in part because ...