Quote Originally Posted by Keyser Soze View Post
That isn’t where the Monetary Policy Committee is fixated my
friend. Excerpt from today’s Financial Times…


In the minutes of the MPC meeting, the seven members who voted for the large increase pointed in particular to inflation data and labour market figures over the past six weeks, which had been significantly worse than they had predicted in early May.

Without updating those forecasts, the MPC minutes said annual private sector regular pay growth of 7.6 per cent in the three months to April was 0.5 percentage points higher than they had expected. Services inflation of 7.4 per cent in May was also half a percentage point higher than the bank’s models had predicted.
Unemployment will go up with people unretiring too, things have changed a lot for some of those late fifties and early sixties retirees, in the last two years.