Bank of England Monetary Policy Committee member Catherine Mann said on Wednesday that inflation in the UK has not yet been vanquished. She noted that services inflation remains pretty sticky and cautioned that she sees more volatility and upward bias to some inflation drivers.
The official also acknowledged that she is an activist rather than a gradualist policymaker. She explained that an activist approach means to cut less until it is clear that the inflation persistence, which has been embedded in the process has been purged. "I would be ready to cut rates in bigger steps when inflation risks have gone," the BoE's rate-setter added.