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Inflation will return to 2%, says Bank of England Governor
The Bank of England Governor Mark Carney has pledged to get inflation back to its target rate of 2 per cent within two years. Inflation dipped to a record-equalling low of 0.5 per cent in December, largely because of low oil prices, sparking fears that the UK could enter a period of deflation, which many economists believe would be damaging. Speaking at the World Economic Forum in Davos, Switzerland yesterday, Mr Carney said that signs of growth in wages would help the Bank of England avoid a deflationary spiral. He said: “We have the responsibility, we have the means and the will to… return inflation back to ... (full story)
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