- The risks remain two-sided but skewed to the downside on growth but upside on inflation
- Noisy data means that it will take longer for me to take comfort from disinflationary trends
- Given the recent period of elevated inflation, I think price stability is the key priority
- Worried about near-term profile for inflation this year
- It now resembles more of a "plateau" than a "hump" in my view
- The risk is that it feeds through into second round effects, skewing risks to the upside
At least she is making it clear which side of the fence she is on. However, the rhetoric isn't anything new as it fits with what the majority on the committee seems to be leaning towards heading into the summer months.
