Bank of England's Mark Carney speaks in the House of Lords

  • Inflation likely to remain close to zero for much of 2015, once we get there
  • Most of the falls in CPI is due to weakness in commodity prices but not all
  • Sees UK output growth remaining solid and increasing signs that wages are picking up
  • Gentle rise in interest rates is likely and consistent with mandate
  • The medium term risk to financial stability remains from the housing market

There's nothing much here we didn't hear from the inflation report a couple of weeks ago