BOE's Mann Says Markets Are Pricing In Too Many Rate Cuts

By Paul Hannon

Investors are expecting too many rate cuts from the Bank of England this year, Monetary Policy Committee member Catherine L. Mann said Tuesday.

In an interview with Bloomberg Television, Mann said those expectations had led to an easing in U.K. financial conditions that means the BOE doesn't need to cut as much as would otherwise be the case.

"I think they're pricing in too many cuts," Mann said. "In some sense I don't have to cut, because the market already is."

One of the BOE's most hawkish policy makers, Mann last week switched her vote to support the majority in leaving the key rate on hold, having previously voted for a further increase.

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(END) Dow Jones Newswires

03-26-24 0543ET