Call for interest rates to stay on hold for longer

A BANK of England policymaker has called for UK interest rates to stay on hold for longer in order to keep rising inflation at bay.

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Catherine Mann, a member of the Bank’s Monetary Policy Committee (MPC), said keeping rates at the current level was “appropriate right now”.

“A more persistent hold on bank rate is appropriate right now, to maintain the tight (but not tighter) monetary policy stance needed to lean against inflation persistence persisting,” she wrote.