News Headline Summary

BoE's King says CPI to be boosted by GBP decline, energy bills

- You might be tempted to think above-target inflation justifies tighter monetary policy but MPC remit is medium term.
- Policy stance exceptionally supportive but if necessary MPC will do more.
- If domestic price pressures subdued, MPC will look through temporary, protracted above target inflation to support recovery.
- Must recognise there are limits to what monetary stimulus can achieve on its own.
- MPC didn't see need for unconditional guidance.

Print 10:39, 13 Feb 2013 - BoE - Source: Newswires