Jon Cunliffe will be looking to see if growth picks up as disinflationary pressures fade over the coming year, while playing close attention to changes in productivity.

Speaking at the Centre for International Business studies in London, the deputy governor of the Bank of England (BoE) remained optimistic inflation will return to target as the effects of the crisis continue to “heal”. But he was also concerned the UK’s “slow healing story” would become “less convincing” if growth faltered and pay