Posen: Austerity drive will push down inflation

Adam Posen, the Bank of England policymaker, has predicted inflaton will fall to 1.5% by mid-2012 as the government's austerity drive and a weak economy will curb consumer spending.

Posen, who has called for more money to be pumped into the economy, was quoted as saying on Monday he would not seek re-election to the Monetary Policy Committee if his view on quantitative easing turned out to be wrong, writes the Telegraph. "If I have made the wrong call, not only will I switch my vote, I would not pursue a second term," Mr Posen said in an interview with the Guardian. Read more   Financial services win booby prize for most complaints Britain's financial services companies are bottom of the league when it comes to customer service, according to a survey publ...