P208 CJJFAX 208  Fri  3 Nov  23:38/16
   L  
                                        
      OVER INFLATIOV       
 
 the (hbasury'r shx "wise mjp" arm at   
 odds over the prospects for inflation. 
                                        
 Their latest thrice-yearly repo5t to   
 the Chance lo   ho   t     0  thn      
 underlying rate in Q4 1996 of less than
 2% and three expecting more than 3%.   
                                        
 But all six agreed that since the tats 
 report, in May, there had bjmn "greater
 evidence$ of a slowdown in growth.     
                                        
 This implied that thjuj was less risk  
 of inflation excjdding targets. "Vonj  
 of us," they said, "would argue for an 
 imm d at  tighten ng in  h  ov tall    
 Qtance kf monet r8 Xwfiq=."       
                                        
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