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Podcast: Beyond Currency
Episode: 12 September 2023 - Should MPC policy be more aggressive?
Description: Catherine Mann is far and away the most hawkish member of the Monetary Policy Committee. She spoke yesterday of her view that interest rates should continue to rise if inflation remains above the Government's 2% target.
She went on to say that in her opinion, it would be better in the long run if the Bank erred on the side of over-tightening rather than bring the cycle of hikes to an end only to be forced to begin again should inflation flare up again over the winter.
Mann accepted that her opinion may be wrong but if the Bank had continued...