The BOE's Revision of Their Forecasts for Inflation

The biggest revision on record in fact to their GDP forecast because of course they were forecasting a recession. Now they're still seeing inflation below their 2% target throughout the forecast period or once it's come back down next year but it's higher than maybe what they were previously forecasting. So what that's saying is maybe we're a bit more hawkish than our headline inflation forecast might at first appear.