00:00So we have got low growth in the economy. Now I think the underlying reasons for that are more to
00:06do with I think the productive capacity of the economy but the best thing that we at the Bank
00:10of England can do obviously is maintain stable prices, low inflation, because that will support
00:15growth in the economy. We are also seeing some signs of weakening in the labour market which
00:21obviously does affect our view on what inflation is going to be and we do take that into account.
00:25It's something I spend a lot of time looking at very carefully.
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