Faced with a stubbornly high inflation rate (RPI), the U.K. government was doing what...
Faced with a stubbornly high inflation rate (RPI), the U.K. government was doing what came naturally for any government - considering changing the formula for calculating the RPI. Thankfully for owners of inflation-linkers, the ONS has decided against this course, putting the onus for lower inflation back on the central bank, where - no surprise - Mervyn King was a supporter of a changed formula.
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