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Mervyn king will be forced to report to Chancellor of Exchequer Alistair Darling explaining how he seeks to bring CPI back to their 2.0 percent on Tuesday at 4:30 EDT when the UK consumer price index above 3.0 percent. As a matter of fact, UK CPI is expected to rise to an annual pace of 3.2 percent, which matches a 26-year high – from 3.0 percent. The BOE cut rates by a quarter points to 5.00 percent, but the Monetary Policy Committee now holds a resoundingly hawkish bias.
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Posted on Jun-17-2008
