Bank of England policymaker Catherine Mann said on Tuesday that her unexpected vote for a half percentage-point cut in interest rates last week did not mean she wanted a series of rate cuts or that she would vote the same way again in March.

Interest rates must stay high even as the UK economy is teetering on the brink of recession, a rate-setter has said, revealing a growing split at the Bank of England.

The Bank of England cut interest rates by 25 basis points on Thursday, even though rate-setters expect to see a significant rise in inflation over the coming year. Seven members of the Bank’s Monetary Policy Committee (MPC) backed the decision,

Bank of England policymaker Catherine Mann said companies will struggle to raise prices this year as consumers are hit by job losses and spending softens, the Financial Times reported on Tuesday. Price increases in the year ahead would be consistent with the bank's target,