“Current Stance of Policy Looks Broadly Right”
- UK Manufacturing PMI at 45.9 in May, from 50.2 in April
- New orders drop at fastest pace since March 2009
- Manufacturers cut back output, employment, purchasing and inventories
Never mind folks, MPC member Spencer Dale is on the case:
“At the moment, our view is that … inflation should slow to around the target at the back end of 2013 and as a result the current stance of policy looks about broadly right,” Dale said in a television interview with CNBC.
Spencer Dale shall henceforth be known as “Crazy Loon, Spencer Dale”.