The Bank of England is likely to hike interest rates once again this week, possibly the last hurrah for one of the great tightening cycles of the last 100 years as a cooling economy begins to worry policymakers.
European Central Bank
But with inflation in Britain still running higher than in any other major advanced economy, the calculation for BoE officials is arguably more complex - with hot wage growth data in Britain still pointing to inflationary risks. Investors will be wary of the BoE's tendency under Bailey to react strongly to above-forecast inflation prints - an approach that some economists say hasAs ever, the language employed by the MPC on the path ahead, and shifts the balance of opinion, could have a big market impact.
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