Inflation to reach 2% target in next six months, BoE says
MPC votes unanimously to leave rates unchanged at 0.25%
The monetary policy committee of the Bank of England has forecast inflation will reach the bank's 2% target within the next six months.
MPC members, who today (December 15) voted unanimously to keep the bank rate unchanged at 0.25%, noted CPI inflation stood at 1.2% in November, up from 0.9% in October.
In its November inflation report, the BoE projected inflation would overshoot its target, settling around 2.5% in 2019. Governor Mark Carney explained the bank was happy to let inflation exceed
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