While actual CPI inflation has picked up this year, this rise has not been mirrored uniformly in other broad price measures,
With price inflation already at a low level, substantial further disinflation would be an unwelcome development, especially to the extent it put pressure on profit margins and impeded the revival of business spending,
As I see it, heightened job insecurity ... explains a significant part of the restraint on (wages), and the consequent muted price inflation, ... Surveys of workers have highlighted this extraordinary state of affairs.
Technology is also damping upward price pressures through its effect on international trade,
The notion of a bubble bursting and the whole price level coming down ... as a national phenomenon is really quite unlikely,
Still-significant productivity growth and a sizable margin of underutilized resources, to date, have checked any sustained acceleration of the general price level and should continue to do so for a time,
In the face of energy price spike and the erosion of optimism in financial markets, consumer confidence, or sentiment, appears to be holding up reasonably well to date, though there have been some mixed signals of late.
The housing boom will inevitably simmer down, ... As part of that process, house turnover will decline from currently historic levels, while home price increases will slow and prices could even decrease.
The economy is turning, and credit comes in with a lag, ... To the extent that a number of small firms are finding it difficult to get the credit they need at a price they can afford, that's likely to change for the better.
The determination of global economic activity in recent years has been influenced importantly by capital gains on various types of assets, and the liabilities that finance them. Our forecasts and hence policy are becoming increasingly driven by asset price changes.