- MPC factors this into its policy decisions
- Changes are still working its way through the economy
- Will adjust bank rate as necessary to return inflation to target sustainably
- GDP growth is still weak despite upwards revision
- There is no bias in our setting of rates looking forward at this point
- Path of inflation forecast is not unreasonable given the scale of shocks
The topics posed by the Q&A so far are a bit of a dud, mainly just trying to question the BOE's view on high inflation and the economy. These are questions that they should be well prepared for. GBP/USD is losing a bit of steam now, down to 1.2585 from around 1.2605 earlier.
