In this speech, Michael argues that, despite the recent drop in CPI inflation, the output gap is probably closed. Michael then goes on discuss why, in his view, the economy will move further into excess demand than the MPC currently forecasts.
In this speech, Michael argues that, despite the recent drop in CPI inflation, the output gap is probably closed. Michael then goes on discuss why, in his view, the economy will move further into excess demand than the MPC currently forecasts.
The economic outlook 