Now, as actually shown in chart 2-5 of the Analytical Perspectives Volume, our average annual GDP growth projection for the five years after the GDP trough is 3.8 percent, similar to the 4.2 percent historical average during recoveries.

WHITEHOUSE: Detailing the FY2011 Budget

MPC's central projection is that inflation will be close to the 2% target in two years' time (see chart).

ECONOMIST: The Bank is in no hurry to raise the price of money