• Forward-looking price and wage indicators have been flat and above target for four months, raising the risk of inflation persistence.
  • Financial markets' inflation expectations suggest the BoE will not get to a sustainable 2% inflation in the forecast horizon.
  • Risks to inflation are almost all upside.
  • I do not use gradual language on rate cuts.
  • I prefer activist strategy on monetary policy.
  • It's important to keep rates on hold, and not pursue a gradualist strategy on rate cuts.
  • The current stance on monetary policy is not particularly restrictive.
  • Gradualism causes inflation persistence to drag on for longer.
BoE's Mann