UK inflation to rise above target, says Bank

In its quaterly inflation report, the Bank of England says that inflation is likely to rise above its 2.5% target in the next two years. The inflation fanchart, which is based on the joint input of the 9-strong MPC committee, shows that inflation is 0.2% above target. But the fanchart paints over wide differences in opinion among the committee members about the outlook for inflation and GDP growth. Mervyn King stressed at the press conference that the fanchart was not a "point" estimate and

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