Philip Shaw Output Quotations

The debate over rates will continue to intensify over the coming months, not least as the committee has received downside surprises from output and upside surprises from inflation.

The figures are a mixed bag but what's quite striking is how low output price inflation remains despite the general background of higher input costs.

The main point though is that output growth has now been below trend for five quarters and we can't see that changing over the next year or so,