A benchmark of global stocks hit a record on Friday while U.S. Treasury yields dipped as some soft U.S. data and the latest tariff announcements raised hopes that the Federal Reserve may have some cushion to be more aggressive in cutting interest rates.

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

In a speech delivered in Leeds, Mann explained that the persistence of "embedded inflationary behaviours" had diminished due to growing weakness in the economy.

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.

Bank of England cuts main interest rate by quarter-point to 4.50% as British economy stagnates. 24/7 coverage of breaking news and live events

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.

Mann was one of two members of the BoE's Monetary Policy Committee who last week voted for a half-point cut in interest rates to 4.25%, against the majority who favoured a quarter-point cut to 4.25%.

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 Bank of England cuts interest rates to 4.5% as inflation falls, but economists debate whether further cuts will come sooner amid weak growth and global risks.

The Bank of England cut interest rates on Thursday as it halved its growth outlook for this year and said a jump in inflation will prove temporary.