BoE's Mann warns UK inflation could become further entrenched
Bank of England policymaker Catherine Mann stated that UK inflation is likely to reach around 4% by the year's end, double the central bank's 2% target. She highlighted the timing's significance as it coincides with companies setting wages for the upcoming year.
Speaking at a TS Lombard conference, Mann said UK inflation was likely to reach around 4% around the turn of the year, about twice the Bank’s 2% target, with the timing seen as especially important because it coincides with the period when many companies set wages for the year ahead. She said demand in the…