Fisher: BOE's inflation target is credible
First Published Monday, 13 July 2009 from Need to Know News
Fisher, discussing the value of the UK's inflation-targeting regime, said the 2% target is "credible" and has helped offset the inflationary impact of a weaker pound.
Fisher said it is unclear whether any monetary policy regime -- ie one that includes other criteria than targeting inflation -- could have prevented the recession.
Indeed he said the policy worked to some degree as the UK has suffered "rather less of a slowdown so far than many of our trading partners".
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Crude inventories are expected to rise 1.3mln following a 1.432mln increase prior Unleaded inventories are expected to drop 1.0mln following a 2.959mln draw prior Distillate inventories are expected to drop 1.5mln following a 2.217mln drop prior Refinery Utilization is expected to rise 0.2% to 80.9%...continued
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...continued
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BOE's Bean...best way to balance competing needs is by "retaining clarity of present remit"...continued
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...continued
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