Bank of England policy maker Catherine Mann explains how she made the decision to switch her vote on the bank’s Monetary Policy Committee from raising UK rates to holding them steady at 5.25% due to a softening labor market and because consumers are spending less on discretionary services, like hotels and restaurants. Speaking in an interview on Bloomberg Television from Belfast, she also said financial markets are pricing in too many interest-rate cuts this year and that it’s unlikely the UK will move before the US Federal Reserve.