filling the gap

Gap File produced at level 10

So, if one were to preview the exchange of letters on that basis, King will cite the , mainly external , that have pushed inflation higher. He will say the Bank does not take any of this lightly, and is serious about getting inflation back to the 2% target , but it recognises that to try to do so quickly would hit the economy unnecessarily hard. A gradual return to target will be its strategy and, by implication, there will be no nasty upward lurches in interest rates.
Darling, in response, will say he understands the Bank's difficulties and the behind them. He will say, in essence, that the government is happy for the Bank to take its time, which it plainly is. A Treasury research paper, " : a long term vision for secure, stable and finance markets", sets out the factors that have pushed prices higher and will be used by the chancellor and Gordon Brown to try to influence other countries at this weekend's G8 global ministers' meeting in Japan and other upcoming gatherings.
The risk, however, is that King's tone and the minutes are more hawkish. The Bank's own figures, released on Thursday, showed a jump in inflation expectations for the next 12 months from 3.3%25 to 4.3%25. Official figures last week had industry's raw material and fuel costs up by nearly 28%25 on a year ago, with factory gate prices rising by almost 9%25.
The European Central Bank threw a sizeable spanner into the works with its warning 10 days ago that it was likely to raise rates next month, though guidance that this will be a one-off move calls into question why it chose to cause such a fuss for a quarter-point change in rates.

The following words will fill the gaps:

cite
commodities
economy
external
factors
factors
factors
finance
global
global
implication
released
research
response
secure
stable
strategy
subsequent
sustainable
target
target
vision