Bank of England Press Release

PRESS RELEASE - In a speech at the London School of Economics 19 November, Mervyn King, Deputy Governor, Bank of England, explains in detail why price stability is desirable and sets out the benefits it has brought to the UK - The Inflation Target 10 Years on.

He also illustrates the difficulties of measuring inflation using historic price data taken from the Harrods catalogue. Mr King then examines the challenges to monetary policy over the next decade, and notes that two questions have been