GBP MPC Member Mann Speaks
BOE MPC members vote on where to set the nation's key interest rates and their public engagements are often used to drop subtle clues regarding future monetary policy;
MPC voting member Sep 2021 - Aug 2024;
- History
Expected Impact / Date | Description |
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May 17, 2024 | Due to deliver a speech titled "Cost of Capital: measurement and implications for business investment" at the Economics Statistics Centre of Excellence Conference on Economic Measurement, in Manchester; |
Apr 19, 2024 | Due to participate in a panel discussion about capital flows at the International Monetary Fund Spring Meetings, in Washington DC; |
Mar 25, 2024 | Due to speak at the Annual Royal Economic Society Conference, in Belfast; |
Mar 12, 2024 | Due to participate in a panel discussion titled "Investing for Growth: Boosting productivity through higher public and private investment" at the National Institute of Economic and Social Research, in London; |
Mar 11, 2024 | Due to participate in a panel discussion at an event hosted by the Center for Economic and Policy Research, in London; |
Feb 28, 2024 | Due to participate in a panel discussion at a Financial Times event, in London; |
Feb 15, 2024 | Due to participate in a panel discussion titled "Labor, Investment, and Technology: Assessing the Drivers of Productivity Growth" at the Annual National Association for Business Economics Economic Policy Conference, in Washington DC; |
Feb 8, 2024 | Due to speak about inflation at the Official Monetary and Financial Institution, in London. Audience questions expected; |
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- GBP MPC Member Mann Speaks News
• Setting the stage: UK business investment has under-performed; so has productivity growth • Why central banks care: Cyclical demand and supply-side ‘speed limit’ Interest rates are central to investment theory • A new framework: Three actors and analytical perspectives – economic net present value, manager decision-making, and financial investor funding – influence the amount and type of business investment • Centrality of the cost of capital: Different measures of the cost of capital (internal funds, hurdle rate, WACC, ROIC) Time ...
post: BOE'S MANN: THE CLEAR CONCERN IS FRAGMENTATION IMPACT ON INFLATION.BOEs Mann: Central banks will have to use autonomy effectively BOEs Mann is speaking and says: • Central-bank small have to use autonomy effectively • Clear concern is the fragmentation of global economies and its impact on inflation • Global integration was important in taming inflation. Oh geez... Remember when inflation was not a concern?
Mann has been a hawkish dissenter recently but switch to vote to hold rates at last week's meeting.
Britain has a long way to go for inflation pressures to be consistent with the Bank of England's 2% target, one of the central bank's policymakers, Catherine Mann, said on Monday. Mann made the remarks at an event organised by hedge fund Citadel, consultancy CEPR and the International Center for Monetary and Banking Studies. She was one of two members of the BoE's Monetary Policy Committee who voted last month to raise interest rates - which are currently their highest since 2008 - to see off inflation risks.
post: BoE’s Mann: Latest UK GDP Data Confirms My View That Second Half Of 2023 Would Be A Soft Patch - Will Get Another Data Print On Inflation And Look At That Before Deciding Next Rate Move post: * #BOE POLICYMAKER CATHERINE MANN SPEAKS TO REPORTERS - BBG *BOE'S MANN: SERVICES INFLATION SLOWING BUT `LONG WAY TO GO' *BOE'S MANN: WAGE GROWTH SLOWING BUT TOO HIGH FOR CPI TARGET *BOE'S MANN SEES TURNAROUND AFTER SOFT PATCH LAST YEAR
As presented in the recently published February 2024 Monetary Policy Report, consumption growth in the UK has been weak, market-sector output growth negative, and GDP flat over the last year. The latest data for headline inflation surprized to the downside relative to what we had expected in November. As a result, looking at the current forecast, inflation is at target by the end of the forecast horizon. From this vantage point, monetary policy is working, so patience is warranted, and a hold could have been my appropriate vote. But, in my assessment of the outlook, real household incomes continue to rise as inflation falls, consumer confidence has improved, indicators of services activity have come in strong, and forward-looking measures of output and employment paint a positive picture. The labor market is still relatively tight and is loosening only slowly. Financial conditions have eased substantially since September, when the MPC decided to hold Bank Rate at 5.25%, in part as markets now soon expect Bank Rate cuts. This constellation points to somewhat stronger, even if not strong, demand going forward. Against a backdrop of sluggish supply growth and possible upside shocks, I see risks of continued infla post: BANK OF ENGLAND MPC MEMBER CATHERINE MANN AT OMFIF EVENT: I SEE RISKS OF CONTINUED INFLATION MOMENTUM AND EMBEDDED PERSISTENCE #catherinemann #boe #bankofengland #monetarypolicy #ukeconomy #inflation #interestrates post: <GBP=>: *BOE'S MANN: UK FINANCIAL CONDITIONS HAVE EASED TOO MUCH *BOE'S MANN: UK INFLATION IS CLOSE TO BUT NOT BACK AT 2% GOAL *BOE'S MANN: DECISION TO VOTE FOR RATE HIKE WAS `NOT EASY' post: MORE BOE'S MANN: I JUDGED THAT A 25BP HIKE WAS NECESSARY TO KEEP INFLATION DECELERATING IN A DURABLE WAY #catherinemann #boe #bankofengland #monetarypolicy #ukeconomy #inflation #interestrates post: MORE BOE'S MANN: VOTE TO HIKE BANK RATE BASED ON PROSPECTS FOR RISING REAL INCOMES, CONTINUED LABOUR MARKET TIGHTNESS AND POSITIVE DATA #catherinemann #boe #bankofengland #monetarypolicy #ukeconomy #inflation #interestrates
Both climate change and the path to net zero will cause higher, more persistent and more volatile inflation that central banks will have to respond to, Bank of England rate setter Catherine Mann said. Speaking at the University of Oxford, Mann said monetary policymakers will face challenges either from the transition to net zero as carbon pricing leads to “persistence in inflation” or from the “physical impacts” of climate change. The impact of carbon pricing, or carbon taxes, would not be the same as an oil price shock as it would ...
The effects of climate change and climate mitigation policies have become an actively debated topic in macroeconomic and central bank circles over the last few years. Some central banks now have references to supporting government climate change policies within the secondary objectives of their remits, including the Bank of England. Not everyone agrees on what role central banks should play in achieving climate change objectives. To me, one thing is clear: When climate change has macroeconomic effects – whether physical impacts from extreme weather events and higher average temperatures or transition effects associated with transforming to a net zero economy, including explicit implications for inflation – it becomes a concern for monetary policymakers, directly within a price stability mandate. That applies whether the monetary policymaker’s remit includes a reference to climate change or not. The Bank of England has been a leader on raising awareness of the risks that climate change presents for economies, beginning with former Governor Mark Carney’s 2015 speech “Breaking the Tragedy of the Horizon”. Since then, much work has focused on the impact on financial stability, financial sector risks, and financial policy from climate change. Today I want to focus on a topic that has received less attention: The consequences for monetary policy of the pathway to net zero. There are two dimensions: First, the implications for monetary policy of the macroeconomic effects of climate change itself. Second, more nuanced but perhaps more novel, the monetary policy implications of climate mitigation policies. Despite net zero being a long-term target, both of these are also relevant over my monetary policy horizon. Is the climate change-monetary policy nexus something new facing central bankers? One could argue that macroeconomic changes from sho post: *BOE'S MANN: CLIMATE SHOCKS POINT TO MORE INFLATION PERSISTENCE
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