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Lambert on challenging times for monetary policy

In the speech 'Challenging times for monetary policy' given on 19 October Richard Lambert of the Bank of England said the central bank is "determined" to prevent higher oil prices from fanning inflation, suggesting he's unlikely to favor another interest-rate reduction soon.

The central bank is closely watching measures of inflation expectations as oil prices top $60 a barrel, Lambert said in a speech in Belfast. For now, wage growth remains ``measurably lower'' than the bank's predictions and

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