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2026-02-15 17:03:56
[Bank of England Monetary Policy Committee Member Mann: High Inflation Leaves "Psychological Trauma" on Consumers, Core Elements of Economic Growth Missing] 1. Bank of England Monetary Policy Committee member Catherine Mann stated that high inflation has caused "psychological trauma" to British consumers, leading to reduced consumer spending. She pointed out that the current UK economy is "weak and underperforming," and the continued shock of inflation is changing the behavior patterns of households and businesses. 2. Mann emphasized that key elements supporting economic growth are currently missing. She stated that the three core pillars of the supply side of the economy—productivity growth, business investment, and the labor force—"are all not functioning," constituting a deep-seated problem in the current economy. 3. This statement reflects growing concerns within the Bank of England about the momentum of the economy. Although inflationary pressures have eased somewhat, their lagged effects are still suppressing demand, and weak supply further constrains the potential for recovery. Future policy direction needs to carefully balance controlling inflation with stabilizing growth.
