Inflation is likely to remain very weak in the medium term, because of the downward pressure on commodities and the relative strength of sterling, but the Bank of England may well "see through" these current trends and look towards the underlying strengths of the economy.
That judgment is too kind to the ECB, which could afford to have scruples about the medium term because other central banks were taking more care of the present.
"That's not the big picture, the big picture is where interest rates go in the medium term, because if I am taking out a mortgage... and if I am thinking of investing in a new plant, if I'm thinking about taking on new people, that's what I care about".
Miliband repeatedly insisted in the sometimes bad-tempered exchanges on the BBC's World at One that borrowing would come down in the medium term because of his five-point plan, including a VAT cut.
The minutes showed a consensus that inflation expectations were "reasonably well anchored," though a few policy makers feared that such expectations could rise in the medium term because of large fiscal deficits and extraordinarily low interest rates.
Stefanie Gallob, head of research at the European Travel Commission, said more Chinese tourists were travelling independently, but the market was likely to remain dominated by group travel for the medium term, because it was easier to obtain travel documents from Chinese authorities.
Clear felling of forest increases runoff in the short and medium term because it reduces surface detention and transpiration.
However, progress of interventions towards universal salt iodation is probably visible only at medium term because of persisting delayed effects of iodine deficiency.
To scrap it suddenly would not be possible in the short- to medium-term because "the entire economic equilibrium of the audio-visual world and theatre is based on it".
In the medium term the positive will reassert because businesses have to get their supply chain in order.
