Downturn in jobs market will mean workers will be unlikely to be able to bid up their wages, says policymaker
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The Bank of England policymaker Catherine Mann has said she backed a half-point cut in UK interest rates last week because she believes the downturn in the jobs market will make the inflation “hump” this year short-lived.
Mann surprised financial markets last week by switching from voting against the Bank’s last cut, in November, to supporting a half-point reduction.
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