Is the BOE Underestimating U.K. Inflation Haste?
Just two weeks old, the Bank of England's latest inflation forecasts are already at risk of looking a bit stale. While the central bank raised its predictions for price growth after Britain's vote to quit the European Union sparked a drop in the pound, officials still see a shallower path than economists. The difference is stark, with some forecasters predicting the headline rate may accelerate above 3 percent by late next year. The BOE only sees inflation exceeding its 2 percent target in the first quarter of 2018 and reaching just 2.4 percent in three years. Morgan Stanley Global Head of FX Strategy Hans Redeker discusses with Bloomberg's Manus Cranny on "Countdown."