The Eurozone "isn't something that could go wrong, it has gone wrong"

Speaking at the House of Commons Treasury Committee, Monetary Policy Committee member Professor David Miles remarked that the Eurozone "isn't something that could go wrong, it has gone wrong". He reminded the committee that many European economies appear to be going backwards, with growth rates close to zero.

Ian McCafferty spoke on the Bank of England's approach to inflation targeting, stating that "the Bank has been a flexible inflation targeter since its inception, about 20 years ago". McCafferty said that since the Bank came about it has both had to consider inflation and also any impact Bank policy may have on volatility.