The Bank of England looks set to raise interest rates by a quarter point to a 15-year high of 4.75% on June 22, its 13th straight rate rise as it fights unexpectedly sticky inflation that risks making it a global outlier
The BoE faces three big challenges when assessing how much more rate tightening it needs to do.
Two of the nine members of the BoE's Monetary Policy Committee , Swati Dhingra and Silvana Tenreyro, have voted against rate rises since December. Third, the extent to which Brexit and any long-term impacts of COVID-19 on the labour market have hurt Britain's productive potential remains unknown.
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