MPC member Posen says he thinks the recession is over but can’t be sure.The best forecast, he says is that we’ve hit bottom and will have pretty strong growth ahead.
Inflation expectations are stable and he sees no reason for them to take off.
Inflation-phobes would argue that quantitative ease and huge government outlays can’t help but spawn inflation…
Cable trades near session highs, now at 1.6622. Stops are at 1.6630, dealers report.
