Downturn in jobs market will mean workers will be unlikely to be able to bid up their wages, says policymaker
The Bank of England policymaker Catherine Mann has said she backed a half-point cut in UK interest rates last week because she believes the downturn in the jobs market will make the inflation “hump” this year short-lived.
Mann surprised financial markets last week by switching from voting against the Bank’s last cut, in November, to supporting a half-point reduction.