Bank of England - Annual Report 2006

According to the Bank of England's Annual Report 2006, published Thursday 22 June, the MPC has remained successful in meeting its objective: inflation is currently close to target and output close to trend.

"To meet the challenges ahead we need to keep our analysis at the cutting edge and to this end we are working towards a leaner and more experienced team of economists. In the implementation of monetary policy we have reformed our money market operations: these now represent a new benchmark for

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