Bank of England Inflation Report, November 2003

The Bank of England published its quarterly Inflation Report for November 2003 on Wednesday 12 November. In the report the Bank forecast that growth in the UK would pick up to just under 3 per cent next year, and would be "marginally above trend" over the next two years. Mervyn King said in the report "Inflation is expected to remain close to the target, although continuing steady growth and diminishing spare capacity are likely to mean that underlying inflationary pressures will build gradually

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