MinutesoftheBankofEngland’sMonetaryPolicyCommitteemeetingearlierthismonthshowallninemembersvotedtokeepinterestratesonhold。

Whatthecommentatorssaid:

Theunexpectedriseininflationis“disappointing”,butisalso“justatemporaryblip”,saidVickyRedwoodatCapitalEconomics。

Thenear-terminflationoutlookhasworsenedduetotheriseinpetrolandagriculturalprices。

However,it“stilllookslikely”tofallbelowits2%targetinthenexttwotothreemonthsaswereachtheanniversaryoflastyear’senergypriceincreases。

Theweakeconomywillpushcorepricepressuresdownfurther,keepinginflationverylowin2013。

It’simportant“nottoreadtoomuch”intoonemonth’snumbers,agreedHowardArcheratIHSGlobalInsight。

EarlyretaildiscountingcausedalargerthanexpectedfallinJuneandbiggerthanexpectedriseinJuly。

The“overalltrend”forinflationremainsdown。

Butitmaytakelongertofallashigheroilandgrainpricescouldraisefoodprices。

LackofgrowthremainsabiggerissueandtheBankofEnglandmaywellimplement£50bnmorequantitativeeasing,probablyinNovember。

Britain’seconomicpolicyislike“theOlympicparkwithnoathletes”,saidSimonJenkinsonGuardian。

co。

uk。

TheBankofEnglandhasinjectedover£325bn,butitisjust“sittinginabank”。

Itneedsan“inventivegenius”likeDannyBoyle,“whocanblow£60minjustthreehoursofhappiness”。

Pay£1,000intoeverybankaccountthisautumn,“withanordertospenditbeforeChristmas”。

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