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MPC caught in quandary

The UK public�s expectation of benchmark inflation over the coming year rocketed to a fresh record high of 3.6% in March, from 3.1% in February, according to a survey yesterday which will likely unnerve the Bank of England as it deliberates over interest rate cuts.

The UK public's expectation of benchmark inflation over the coming year rocketed to a fresh record high of 3.6% in March, from 3.1% in February, according to a survey yesterday which will likely unnerve the Bank of England as it deliberates over interest rate cuts.