But the monetary policy committee know that rising commodity prices could yet come to bite us in the next few months.

BBC: Wet weather helps Bank's inflation forecast

Or how the head of the Gold Anti-Trust Action Committee testified about gold manipulation before the Commodity Futures Tradition Commission and the camera conveniently malfunctioned?

FORBES: Gold ETFs And The Manipulation Game

Inflation has been high, but the Committee believes that the decline in energy and other commodity prices and the weaker prospects for economic activity have reduced the upside risks to inflation.

FORBES: Joint Statement by Central Banks