LONDON (Reuters) -Bank of England interest rate-setter Catherine Mann said she voted to keep borrowing costs on hold last week – having voted for a big 50-basis point cut in February – because Britain’s labour market had been more resilient than she expected.
“The first observation is that the labour market has been more resilient. Now, yes, we’ve had some prints that are indicative of a slowing labour market, but it is not a non-linear adjustment,” Mann also told CNBC television on Wednesday.
She also said was worried that household inflation expectations and goods price inflation had increased.
The BoE cut its benchmark Bank Rate by a quarter of a percentage point on May 8. Mann and BoE Chief Economist Huw Pill voted for no change.
(Writing by William Schomberg; Editing by Kate Holton)
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