BOE's Bailey: The word 'transitory' for inflation was becoming overused

Bailey:

• There are two-sided risks to our inflation forecast

Haskel:

• Terms like 'transitory' or 'permanent' pigeon-hole people too much on inflation
• Forward-looking BOE inflation and wage surveys are a concern
• Decision to vote for 50 bps rate hike was finely balanced for me

Broadbent:

• This is the most challenging period for monetary policy since inflation targeting began in 1992

It's funny how they are shooting down the whole 'transitory' idea when central banks themselves were the ones talking it up last time. Pfft. In any case, there shouldn't be anything from the hearing here to be of much significance in my view. The BOE will continue to carry on tightening policy until they see it necessary to curb inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term pressures.