BoE's Lomax on the MPC coming of age

In the speech 'The MPC comes of age' given on 28 February Rachel Lomax of the Bank of England highlighted that the central bank will fulfil its duty of meeting the inflation target rate over the medium term.

"We can and will keep inflation close to target on average. Short run deviations from the target should not leave anyone in any doubt about that," she said in a speech which marked the tenth anniversary of the central bank's independence.

The Monetary Policy Committee cannot work miracles and

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