Britain is set for solid growth and falling inflation this year but the Bank of England has little scope to cut interest rates further, the NIESR think tank predicted on Wednesday in a relatively upbeat set of forecasts.

Mann's first vote for a cut during this cycle marked a departure from her comments in August, when she warned Britain not to be 'seduced' into believing that the battle against inflation is over, citing wage growth and related concerns in the services sector.

The central bank cut rates for the third time in about six months as it said economic growth had been weaker than expected.

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.

MORTGAGE lenders have swiftly reduced their rates following the Bank of England’s decision to lower the base rate to 4.5% this afternoon. This move is set to benefit thousands of borrowers,

Bank of England interest rate-setter 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.

The Bank of England is widely expected to cut interest rates for the third time in six months later Thursday even though inflation remains above its target.

Catherine Mann, a policymaker at the Bank of England (BoE), clarified her stance on interest rate cuts during a speech on Tuesday. Her recent vote for a half percentage-point cut in interest rates, which came as a surprise to investors,

Bank of England policymaker Catherine Mann said on Tuesday she voted for a half-point interest rate cut last week to "cut through the noise" about the right stance for policy, but said rates needed to remain restrictive.