Jeremy Hawkins Percent Quotations

The decision to cut by a quarter point was about right. What the meeting does show was there was a wide range of views and some had considered a 50 basis point (0.5 percentage point) cut but there was concern that could open up the imbalance of a two-speed economy.

The headline rate was really spot on. But while the ex-energy index is still soft, it's up from 1 percent in May. That may indicate that general cost pressures are beginning to feed through the economy.