In line with the Code, the paper emphasises that, where it is used, last look is only for the price and validity check and not for other purposes. To minimise the uncertainty for the client, this price and validity check should be applied without delay. Also, information about trade rejections should be accurately recorded so that it can be shared with clients.
This growth rate substantially exceeds the potential growth rate, which is estimated to be around 0.5 percent. In this situation, the output gap has been steadily narrowing and is expected to turn positive. The second route is raising people’s inflation expectations. While some may be unfamiliar with this terminology, these are inflation rates that the public foresees.