Bank of England's Mann sees case for 'persistent' hold of BoE rates
LONDON, Aug 26 (Reuters) - Bank of England Monetary Policy Committee member Catherine Mann said on Tuesday that she saw a case to keep Bank Rate on hold on a persistent basis but stood ready to cut rates forcefully if downside risks to growth materialise.
"A more persistent hold on Bank Rate is appropriate right now, to maintain the tight - but not tighter - monetary policy stance needed to lean against inflation persistence persisting," Mann said in remarks released by the BoE.
"However, I stand ready for a forceful policy action, in the form of larger, more rapid Bank Rate cuts, should the downside risks to domestic demand start materialising," she added.
Mann, who voted against this month's quarter-point rate cut, is due to deliver the remarks later on Tuesday at a conference to mark the Bank of Mexico's 100th anniversary.
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