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M (“mega”) + pc (“parsec”)
In the past, Professor Nickell has proved a bellwether for future action by the MPC.
Describes the role of the inflation forecast in the MPC's decisions.
This in turn will put upward pressure on inflation and may make the MPC more hesitant to cut interest rates.
To maintain stability the MPC has an inflation target of 2½% .
The sorcerer 's stone Leading the push is Steve MacPherson, Head of Technical Operations in MPC 's film division.