Bank of England’s Mann: markets expect too many interest rate cuts this year

Senior policymaker says UK central bank is unlikely to move before US Federal Reserve

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A senior Bank of England policymaker has warned that financial markets are expecting too many interest rate cuts this year and that the UK central bank is unlikely to move before the US Federal Reserve.

Catherine Mann, an external member of the Bank’s rate-setting monetary policy committee (MPC), said there were risks that UK inflation could persist at higher levels than in the US or the eurozone.