Bank of England's Mann says impact of QT cannot be offset fully
LONDON, June 2 (Reuters) - The Bank of England needs to pay closer attention to the impact of its quantitative tightening programme on monetary and financial conditions now that it is cutting interest rates, BoE policymaker Catherine Mann said on Monday.
The British central bank makes a decision on the pace at which it reverses its past quantitative tightening once a year, with a next decision due in September.
"Now that the MPC is reducing restrictiveness, I believe that we need to consider the differing effects of our policies on different parts of the yield curve and their effects on monetary policy transmission as a more salient issue," Mann said in the text of remarks released by the central bank.
Mann is due to deliver the remarks at a conference hosted by the U.S. Federal Reserve later on Monday.
Last month, Mann and BoE chief economist Huw Pill voted to keep interest rates on hold at 4.5% rather follow the majority decision to cut rates to 4.25%, due to their concerns about persistently high inflation.
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