- Disinflationary process is well on track
- Inflation had turned out lower than expected in September
- Upside risks to inflation are also now seen as lower
- Inflation would probably reach 2% target somewhat earlier
- But still too early to declare victory in the fight against inflation
- A few members initially expressed a view that they would have preferred to accrue more information and to wait until December
- The closer rates are to neutral territory, the more cautious one would have to be that monetary policy itself did not become a factor in slowing down the pace of disinflation
This article was written by Justin Low at www.forexlive.com.
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