‘Scarred’ Britons are afraid to spend, says Bank of England official

Catherine Mann says interest rates should be held at their current level to combat inflation - Laura Zapata/Bloomberg' Britons “scarred” by years of high inflation are spending less and saving more, a Bank of England official has said. Catherine Mann, a member of the Bank of England’s Monetary Policy Committee (MPC), said real terms household spending had flatlined since the pandemic and blamed the “scarring” effects of “high and volatile inflation”. Speaking at a Resolution Foundation event, Ms Mann sa ...