The expansion in UK domestic demand has continued. But the outlook for global growth has weakened. Some asset and commodity prices have fallen, as have market interest rate expectations. Growth is projected to be a little weaker than in August. It slows slightly in the near term, settling back to around historical average rates, underpinned by a gradual pickup in demand abroad and a revival in productivity and real household income growth at home. Inflation has fallen further below the MPC’s 2% target, reflecting the impact of lower food, energy and import prices and some continued drag from domestic slack. Inflation ... (full story)