BoE's Mann says people are scarred by high and variable inflation, core inflation was not quite as good as hoped

BoE's Mann says people are scarred by high and variable inflation, core inflation was not quite as good as hoped.

Mann's comments reflect a cautious stance on inflation dynamics in the UK, indicating that the Bank of England may still face challenges in managing inflation expectations. The acknowledgment that core inflation is not improving as anticipated suggests potential for prolonged monetary policy tightening, which could influence both GBP and fixed income markets. Expect market reactions to weigh the implications for future rate guidance.