BOEs Bailey on the wires saying:
- We are pretty much on track for where we thought we would be in February on inflation.
- I expect next month’s inflation number will show quite a strong drop
- The effect of the Mideast conflict is less than feared
The year ago next month, the month-on-month reading showed a 1.6% gain. When that drops out of the equation next month, it will lower the YoY rate significantly. It’s just the math. Hence Bailey’s confidence on the inflation trend next month.
This article was written by Greg Michalowski at www.forexlive.com. Source