“It’s a real miss,” said Paul Dales, chief UK economist at consultancy Capital Economics, adding that it would be “a huge improvement” if the MPC published its own projections for rates and showed what action it thought was needed to hit the 2 per cent inflation target. “It would have been clear, transparent and similar to the procedures of the central banks in the US, Norway, Sweden, New Zealand and South Africa,” Dales said.
