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They would like inflation to be at 2%. it is only at 2.4%. in the uk, the bank of england which became independent in 1997, is basically prefers inflation 2% of annual basis. it is almost twice that level at 3.7. and the main voice from the bank of england is that this inflation rise is only a temporary in nature. it is not as a result of what you call the demand poll inflation. it is not because everybody wants to spend and everybody wants to buy everything but what they think is a temporary cost push inflation part of what you see is in the street, part of the rise in the commodity prices so as i said the main voices of bank of england are not ready to raise rates. however, as we found out in the me minutes of the last meeting, there s two persons who are voting for an interest rate ....

Bank Of England , 2 4 , Inflation Rise , 3 7 , Cost Push Inflation Part , Demand Poll Inflation , Commodity Prices , The Street , Interest Rate Hike , Me Minutes ,