The Bank of England won’t stop raising interest rates until unemployment is far higher
Today’s remarkably strong wages data explain a lot. Not least why the UK economy has refused to tip into recession. With wages rising at about 8% and unemployment still little more than 4% there is too much demand sloshing around the system for GDP to contract. Sometimes you do have to feel a bit sorry…
 
                         
                         
                         
                         
                         
                        