Wednesday, June 18, 2008
Ex MPC members take on the BoE current inflation position
From The TimesJune 18, 2008 Inflation: we can pay now or later The Governor of the Bank of England thinks he can hit his target painlessly. He is wrongWillem Buiter Here is the bad news: inflation, which in May reached 3.3 per cent, is above the Government's 2 per cent target and rising. The Bank of England expects it to top 4 per cent this year. Inflation expectations are also above target and rising. The Bank's own survey puts public perception of current inflation at 4.9 per cent (against 3.9 per cent in February) and its expectation of inflation a year ahead at 4.3 per cent against 3.3 per cent in February).