Published by Global Banking & Finance Review®
Posted on February 11, 2025
1 min readLast updated: January 26, 2026
Catherine Mann of the Bank of England predicts stable consumer pricing in 2024, aligning with the bank's 2% inflation target, despite economic challenges.
(Reuters) - Bank of England interest rate-setter Catherine Mann said companies will struggle to raise prices this year as consumers are hit by job losses and spending softens, the Financial Times reported on Tuesday.
Price increases this year will be consistent with the bank's target, Mann said. The BoE's target for inflation is 2%.
Earlier this month, the Bank of England cut interest rates by a quarter-point and halved its 2025 growth outlook, a blow for Finance Minister Rachel Reeves, who is pushing to speed up the economy.
The bank had also said inflation would be almost double it target for this year.
(Reporting by Nilutpal Timsina in Bengaluru; Editing by Tom Hogue)
The article discusses the Bank of England's prediction on consumer pricing stability in 2024, as stated by Catherine Mann.
The Bank of England's inflation target is set at 2%.
The Bank of England recently cut interest rates by a quarter-point.
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