BoE rate-setter Mann: further interest rate hikes still more likely than not

The Bank of England has raised interest rates for the tenth time in a row lumping further pressure on mortgage borrowers (Yui Mok/ PA)

(Picture: PA Wire)

A Bank of England Monetary Policy Committee member has said today that further interest rate increases are still more likely than not, after the bank raised rates to 4 per cent last week.

Speaking at the Lámfalussy Lectures Conference in Budapest, Catherine L. Mann - one of the nine committee members who set UK interest rates - discussed whether inflation had hit a “turning point” that would prompt the Bank to stop raising rates.