undershoot

As a result of a hard landing, the BOE would be confronted with “an even more dramatic inflation undershoot” than in a bumpy landing.

Still, ECB rate setters expect that rise in inflation to be short-lived, and are more concerned about undershooting the 2% level next year.

"Overall, there's more undershooting than overshooting of fertility ideals," she says.

A runway safety area refers to an area adjacent to, or at the end of a runway, meant to limit damage to aircraft should they overshoot, undershoot or veer off the runway.

Ruth Gregory, deputy chief UK economist at Capital Economics, said "Christmas has come early" for Chancellor Rachel Reeves due to borrowing "undershooting" expectations.