BOE’s Posen Sees Inflation Slowing ‘Well Below’ Target

Bank of England policy maker Adam Posen dismissed the recent burst of inflation as temporary, indicating he may keep pushing for more stimulus to aid the economic recovery.

“In terms of underlying U.K. inflation, driven by domestic forces, my position is unchanged,” Posen said in an interview in his office in London today. “Inflation will be well below” the bank’s 2 percent target, he said, citing spare capacity and the likelihood that budget cuts will hurt consumer spending.