LONDON (MNI) – The Bank of England may need to explain its thinking
on inflation in more detail after recent surveys and data releases
showed inflation pressures are mounting, according to the Confederation
of British Industry
Ian McCafferty, the CBI’s chief economic adviser, said the MPC is
tackling the most difficult set of decisions of its “life so far”.
“It’s a very difficult set of issues and I think we do need to see
them explain exactly, and perhaps in more detail, the challenges that
they’re facing, ” he said.
“The way in which the economy is moving at the moment, a sluggish
and fragile recovery coupled with a good deal of what could be temporary
cost-push inflation, is a difficult combination for the Bank to have to
deal with,” McCafferty told reporters.
–London newsroom: 4420 7 862 7492; email: wwilkes@marketnews.com
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