BoE's Tucker on asset prices and uncertainties

In the speech 'Asset price and financial system uncertainties' given on 11 December Paul Tucker of the Bank of England said an interest rate rise in November was needed to ensure that inflation expectations remained well-anchored ahead of the January pay round.

"I concluded that it was essential for the MPC to act in a way that was most likely to keep inflation expectations anchored," he said, according to the text of his speech.

"With headline inflation tangibly above target in the run-up to the

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