Inflation Too "Low"

The Bank of England is of the view that inflation will remain at around 1% for most of next year. Seemingly the Governor may have to write to the Chancellor to explain why inflation is so "low".

Governor says more likely than not that he will have to write letter to Chancellor in coming months explaining why inflation too low

— Robert Peston (@Peston) November 12, 2014

Thus underscoring what I have said many times before on this site, namely that interest rates will not go up anytime soon!