BOE-MPC minutes: Most MPC ready to alter policy in either direction, big risks to CPI in both directions
- Some MPC felt chances of more stimulus being needed had increased in recent months
- Upside risks to CPI expectations broadly same, but commodity prices, weaker sterling potential risks
- Mixed views on prospects for demand, Nov inflation report will help analysis of outlook
- Posen felt more QE would lower risk of CPI falling below target, damaged supply capacity
- Sentance felt failing to respond to high CPI risked loss of MPC credibility
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