The "most hawkish" official of the Bank of England expressed support for a significant rate cut, stating that weak demand outweighs inflation risks.

Last week, Catherine Mann, a Bank of England official who supported a significant 50 basis point rate cut, said in an interview that with consumers cutting spending, businesses are finding it difficult to raise prices. Mann said that the demand situation is much weaker than before, which means that further policy easing may be needed, as weak pricing power could seep into lower inflation. Last week, the Bank of England cut interest rates by 0.25 percentage points to 4.5%, marking the third rate cut since August last year. Bank of England officials unanimously decided to cut rates to a 19-month low, with two officials supporting a significant 50 basis point cut, prompting markets to increase bets on further easing measures. Mann is one of the officials who supported the rate cut. It is worth noting that Mann has always been one of the strongest voices among officials and had opposed rate cuts last year due to persistent inflation risks. Mann said the situation looks different now. She said that voting for a 50 basis point rate cut is a one-off adjustment, not a series of cuts. The money market currently tends to expect three more rate cuts this year, each by 25 basis points. Mann said, "To some extent, we can communicate what we believe is the appropriate financial conditions for the UK economy, in my view, larger moves are a better communication tool."