91.   He said the most significant risk to the inflation outlook was the uncertainty resulting from the strengthening New Zealand dollar and the way this could affect domestic pricing.

92.   But with the inflation outlook looking benign and manufacturing mired in recession, some analysts believe the central bank could still have another rate cut up its sleeve.

93.   Clarke was likely to argue that recent data gave a mixed picture of the economy and the inflation outlook.

94.   This improvement in the inflation outlook increased the chances of an imminent cut in interest rates to boost flagging economic growth, he said.

95.   The Milan stock market plummeted as the market worried about the inflation outlook.