Accounts: September provides more information but still a lot of uncertainty

Accounts: Looking ahead to September. More information but still uncertainty: "Looking ahead, additional information, including more hard data releases, new staff projections and news on fiscal measures, would become available by September. This would provide more clarity regarding the medium-term inflation outlook. At the same time, it was cautioned that in terms of the flow of information over the summer, it would be unusually difficult to extract signals about the medium-term prospects for the economy and the inflation path, as the scale of the initial bounceback in activity was not necessarily a good guide to the speed and robustness of the recovery. In any case, at its September meeting the Governing Council would be in a better position to reassess the monetary policy stance and its policy tools."