Mark Carney in Liverpool
Tolerance for above target inflation is limited
Getting CPI to 2.0% in 3 years would take 100bps of hikes
We need a better mix of monetary & fiscal policy and reforms
BOE policy can respond in either direction
Uncertainty to cut 1% from UK GDP over next 3 years
UK consumption to slow as inflation squeezes incomes
Nothing here we didn't already know.