mpc: 23 There had not been a lot of news over the month. In the United Kingdom, GDP seemed likely to
continue to grow at broadly its trend rate, in line with the February
Inflation Report projections. But
the news on UK-weighted world demand had been slightly on the downside, with the rise in oil prices
and signs of weaker euro-area growth. And higher sterling market interest rates would tend to reduce
activity and lower inflation.
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