BoE's Greene (annual report): "I believe the disinflationary process is still on track and the risk that inflation remains persistently above target has diminished..."
Importance
Level 1
- "We might instead need to raise rates, but this could damage our credibility, which may in turn make it harder for us to convincingly anchor inflation expectations. It is for this reason that I believe it is appropriate to slow the pace of further cuts until we can be more confident inflation is returning sustainably to target."
- "Although recent data for inflation and wages have come in moderately weaker than we had expected, forward-looking metrics for both are less comforting"
- "Going forward, I will continue to look for evidence that lower inflation outturns have caused these forward-looking indicators to come down."
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