Growth forecast downgrade in inf rpt due to eurozone crisis

Need contingency plans vs Eurozone crisis worsening

Creditors will have to bear some of Eurozone rebal burden

UK banks clearly better capitalised vs some Eurozone ones

Euro area has increasingly threatened UK recovery

Funding strains are causing great deal of concern

Things could get better in Eurozone - 'Absolutely'

Clear what is going on at the moment, rebalancing of economy

Expect to see subdued wage growth to continue

All inflation expectations signs fail to show significant pickup

Factors which drove inflation higher are diminishing