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Ramsden asked on whether to use the forecast conditioned on the market curve

BOE

Says that the market curve (not commenting on right or wrong) - but if that's where the skew of risks are in the market - that's what it was representing. Which is higher than the market curve now is. Says he recognises that - and in this case its important to recognise what the curve did to the forecast and pulling that out. Says its worth noting that the market curve was taken from a shorter period but markets were particularly febrile at the time.

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