Inflation is up (now 3.8%), driven not by wages but by transport costs & retail prices (reflecting transport costs no doubt)... which likely rules out any further reduction in interest rate any time soon.
So, as inflation is relatively persistent at the current level, is the BoE's (arbitrary) target for 2% inflation now any more than an excuse for the sado-monetarists to continue to squeeze the mortgage-paying population?
How much longer will the BoE's economic repression continue?