LONDON: The Bank of England's two deputy governors, Charles Bean and Paul Tucker, and two external members of its Monetary Policy Committee, spoke to legislators on Tuesday to explain the bank's quarterly economic forecasts.
Two weeks ago the bank forecast that inflation was likely to exceed 2 percent until early 2016, and last week it revealed that three members of the Monetary Policy Committee - governor Mervyn King, Paul Fisher and David Miles - wanted to restart the bank's programme of bond purchases.
Following are highlights of remarks by Bean, Tucker, Miles and Ian McCafferty to parliament's Treasury Committee. Also included are extracts from annual reports by Bean and Tucker to the committee, which were published at the start of the hearing.
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