"inflation is expected to reach 3 per cent by the summer"
"Now you might be tempted to think that an above target inflation forecast justifies a tighter monetary policy and certainly ensuring inflation returns to target in the medium term is our primary responsibility and objective.
But the MPC’s remit is to deliver price stability in the medium term in a way that avoids undesirable volatility in output in the short run.
Attempting to bring inflation back to target sooner would risk de-railing the economy and undershooting the target in the medium term."
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Meryvn King at BOE quarterly address :=
"inflation is expected to reach 3 per cent by the summer"
"Now you might be tempted to think that an above target inflation forecast justifies a tighter monetary policy and certainly ensuring inflation returns to target in the medium term is our primary responsibility and objective.
But the MPC’s remit is to deliver price stability in the medium term in a way that avoids undesirable volatility in output in the short run.
Attempting to bring inflation back to target sooner would risk de-railing the economy and undershooting the target in the medium term."
= Cable dropped 1 big figure
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