BOE's Forbes says the central bank is underestimating inflation
Forbes dissented last week and spoke in a Bloomberg interview just now
- CPI pickup isn't just temporary currency effect
- UK CPI will probably rise above 3%
- Expects wage growth to pick up
- BOE is underestimating inflation pressures
- Sees costs to looking through current higher inflation
- Exports will help "keep GDP growth around potential, or slightly above potential, over the next couple of years."
Forbes is leaving the BOE at the end of the month so her dissent and comments don't carry much weight.