BANK OF ENGLAND POLICYMAKER CATHERINE MANN: SERVICE PRICE INFLATION STILL HAS A LONG WAY TO GO

Service price inflation is still too high and has a long way to improve.

Recent economic data has been positive, but the UK’s overall growth outlook is modest.

Consumer behavior is a key factor for growth prospects.

UK’s economic growth is not expected to exceed 1%.

Inflation data has been promising.

Service prices need more improvement.

The Bank of England might have lowered interest rates too soon.

Slowing inflation may not be enough to hit the 2% target in the medium term.