Tuesday, Apr 24, 2007
MPC 'look through the fog '
thisismoney.co.uk: Inflation will fall sharply, says King
He said: 'CPI inflation has risen but now expect it to fall back - this could be a sharp fall back over the next four to six months.'
Mr King was giving evidence to the Treasury Select Committee on the 10 years of the banks' monetary policy committee (MPC), which took control of interest rates in 1997. The MPC is charged with keeping inflation within a 1% range of the bank's 2% inflation target.
The governor added that the committee's outlook for inflation was little changed despite March's rise and said that the MPC had to 'look through the fog to the medium-term prospects'.
Posted by skhudy @ 06:59 PM (156 views) Add Comment
2 Comments
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1. Whiteknight said...
Real inflation is all we care about and its only foggy to him. Other people have a clear view of the future and it does not involve him being responsible for anything in particular.
2. Planetmervyn said...
Open letter to Mervyn....
Dear Merv
Remember last year when rising oil prices gave inflation a good old kick in the upwards region, well I don't know if you've noticed recently but oil prices are set to do it all again this year.
Kind regards
imsickofthempc