Craney: MPC has the means and the will to bring inflation back to targer

FXStreet (London) - Speaking at the MPC appearance before the Treasury Select Committee following February’s Quarterly Inflation Report, Bank of England governor Mark Carney addressed questions regarding the UK’s inflation rates saying that it was the unanimous decision of the MPC that inflation should be brought back into line with the BoE’s target rate of 2 percent within “an appropriate time horizon” which Carney said would be within two years. The BoE governor said that the Bank had the means and will to bring inflation back into target and reiterated his view that current low inflation rates are temporary.