[BOE/MPC's BARKER] kicks off the TSC testimony by noting having external members is extremely important while Besley notes that the infl anchor is a central par of the BoE regime and that the infl report will be critical for setting out the MPC's thinking. In his view, infl volatility appears to be short term. Blanchflower said that BoE will do everything it can to curb CPI pressure and that there has clearly been some degree of volatility in infl recently. Sentance notes that longer infl is above target the the greater is the risk it hits expectations. Sentance notes that there is still a big debate on the MPC about the status of the housing market with the current strength pointing to demand picking up ahead.
= 10 pips up......
= 10 pips up......