
The Bank of England’s decision to cut interest rates by 25 basis points last week was widely anticipated, but it still stunned some economists. That’s because Catherine Mann, the Monetary Policy Committee’s arch-hawk, suddenly switched from calling for the cost of credit to stay where it is, to voting for a jumbo half-point cut. Her argument, outlined in an interview in the Financial Times on Tuesday, was that Britain’s economic outlook had weakened substantively, putting rate-setters on the back foot. As things stand, she is not wrong.
英國央行上周將利率下調25個基點的決定符合廣泛預期,但仍令一些經濟學家感到震驚。這是因為貨幣政策委員會的頭號鷹派凱瑟琳?曼(Catherine Mann)突然從呼吁保持信貸成本不變轉向支持大幅降息50基點。她在周二接受英國《金融時報》采訪時概述了自己的理由,即英國的經濟前景已被顯著削弱,使得利率制定者處于被動地位。就目前的情況來看,她沒有錯。