Discretionary services inflation has started to soften in the past monthThe change of voting intention is due to consumers disciplining firms pricing, thus changing dynamic in labour markets and also the financial market curve
For some context, Mann voted for a 25 bps rate hike in February only to change that to a hold vote in the latest policy meeting last week. That conforms with almost the entirety of the committee, with only Dhingra still voting for a 25 bps rate cut instead.
This article was written by Justin Low at www.forexlive.com.