British MPC Turns 10

Actually, that happened in May 2007. And to mark the event the Treasury of Her Majesty inquired and published the interesting report you can download by clicking on the image below. Here's some of the stuff they found.

Since the inception of inflation targeting, inflation in the UK has been low and stable and economic growth has been very stable. It also confirmed that there is not really a trade-off between inflation and growth or if you prefer that inflation is not only the worst enemy of the poor but also an enemy of growth. Which makes it all the more difficult to understand why Sithanen has been producing such a robust amount of it.