The Bank of England released today the MPC's inflation report. It is widely known that inflationary pressure has been haunting the UK, keeping it above target. According to the publication, it is likely to stay that way for many months to come: "CPI inflation is likely to remain above the target throughout 2011, given the forthcoming increase in VAT."
In terms of growth, the authors anticipate moderate performance in the near-med term: "Despite steady growth over the forecast period, output is likely to remain substantially below the level implied by a continuation of its pre-crisis trend".
In terms of growth, the authors anticipate moderate performance in the near-med term: "Despite steady growth over the forecast period, output is likely to remain substantially below the level implied by a continuation of its pre-crisis trend".
