Bank of England Inflation Report, May 2006

The Bank of England published its May 2006 Inflation Report on 10 May. In remarks following the publication of the report, Mervyn King said the Monetary Policy Committee 'remains ready to take whatever action is necessary in order to keep inflation on track to meet the target in the medium term'.

'Following a decade in which import prices have, on average, fallen, they have recently picked up and are expected to add to rather than subtract from inflation over the forecast period,' said King.

He

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