Catherine Mann, a member of the Bank of England's monetary policy committee, told The Financial Times on Monday that the bank remains concerned about the rising risks of inflation and said:
- The prices of goods and services may rise again.
- Wage growth is still a concern for inflation.
- It could take years for wage pressures to disappear.
She stated that she had personally softened her stance as a bank Hawk and lowered her gauge from 10 to 7 currently, due to easing inflation.
Speaking about wages, she said that some people at the bottom got a significant amount of increase in their wages, and therefore others in higher positions did not get these increases, which led her to believe that in 2025, they will be the ones who will get increases in their wages, and therefore this may add inflationary risks to the economy.
