Philip Shaw Although Quotations

This underpins our view that interest rates will have to come down again although the MPC caution on inflation suggests that's not going to happen until early next year.

Although it is clear the Bank is planning to keep rates on hold for now, our view is the MPC is still too optimistic on growth.

The fall in unemployment is a bit of a surprise. There are no signs for the time being that wage inflation is picking up although the numbers next month will be critical.

The figures are better than expected and although petrol prices have come down, there is an improvement in core rate of inflation.