The Monetary Policy Committee (MPC) published the Inflation Report on a quarterly basis as part of the undergoing public reform that emphasizes transparency and accountability in the policymaking process. To enhance public understanding of policy issues, the Inflation Report provides data and information employed by the MPC in determining the direction of monetary policy.

The MPC fully recognizes that transparency in monetary policy increases its effectiveness. For this reason, the MPC integrates the latest data in its economic assessments, specifically relating to inflation, internal and external economic conditions, various assumptions underlying the forecasts, and other issues the MPC considers important. This information should provide useful guidelines for private sector economic activities.

The Inflation Report  was first published in July 2000.

 

Summary Forecast as of January 2010
%	2009	2010	2011
GDP Growth (oct 09)	~ - 2.7	3.3 - 5.3 (3.3 – 5.3)	2.8 - 4.8
Core Inflation (oct 09)	0.3*	1.3 - 2.3 (1.5 - 2.5)	1.8 - 2.8
Headline Inflation (oct 09)	- 0.9*	3.0 - 5.0 (3.5 - 5.5)	2.0 – 4.0

                                                                 * Actual outturn