Stubborn UK inflation should temper deflation concerns

The fall in UK inflation to zero shouldn't mask the fact that its 7-year average since the start of the crisis has been 2.6%

Stubborn inflation in the face of a Great Recession should temper deflation concerns and there are grounds for wage optimism

BofA Merrill Lynch says - "We see 1y1y inflation - the rate for February 2017 - as too low and recommend a 1y1y vs 2y3y inflation flattener at 45bp"