1:25:22 > 1:25:24Subtitles will resume at 11.30am.
1:30:21 > 1:30:27In terms of the relative likelihood of those 4.5 hypotheses I have
1:30:27 > 1:30:36racked them and what, in my view, is descending likelihood of truth. As
1:30:36 > 1:30:44we go through this year and we get more information sought by our next
1:30:44 > 1:30:47forecast with more quarters of observation, if productivity growth
1:30:47 > 1:30:56were to remain strong, than that starts making you think, maybe
1:30:56 > 1:31:00something real has happened. - sort your rank those hypotheses in
1:31:00 > 1:31:09descending order of probability. That's right.I was going to ask a
1:31:09 > 1:31:13question about the difference between your forecast and that of
1:31:13 > 1:31:19the Bank of England but I will take the hypothesis and explain -- that
1:31:19 > 1:31:31is explained by the descending order. So miss measurement, that the
1:31:31 > 1:31:35something the professor has given evidence to and that is relatively,
1:31:35 > 1:31:43going back two years,, that was higher up your interest and higher
1:31:43 > 1:31:48up in your thinking. You spoke, sampling error. Could you just say
1:31:48 > 1:31:56even for bit about where in the future you think that might go.
1:31:56 > 1:31:59That is where we leave our live coverage from the select committee
1:31:59 > 1:32:07rooms. You can continue watching coverage online, on our website.