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BOE Inflation Forecasts Starting to Look Credible: Economist

3:30 AM ET Wed, 16 Nov 2011

Brian Hilliard, chief UK economist at SG,Societe Generale, told CNBC, "I think we have reached a peak in inflation and we will see a very sharp fall next year partly because of VAT falling out of the calculation and partly because it is going to be weak." He predicted growth next year to be as low as 0.7%.