Bank of England unwavering in support for inflation target

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The latest minutes from the Bank of England's Monetary Policy Committee (MPC), released today (January 23), show the committee maintaining a firm position on controlling inflation – in line with governor Mervyn King's strongly-worded comments last night that inflation targeting should not be sacrificed in the quest for economic growth.

King said any attempt to replace price stability with economic growth as the central bank's long-run target would be "wishful thinking", and it would be

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