Bank of England's Tightrope Walk: Wage Growth Fades, Oil Spikes, and Bond Costs Soar

The Bank of England's Monetary Policy Committee meets Thursday facing a stark dilemma: private sector wage growth has slumped to 2.9% – the lowest since October 2020 – suggesting limited second-round inflation effects, yet Brent crude soars above $107 per barrel after Saudi Arabia closed its East-West pipeline, and 10-year gilt yields have hit 5.4%, their highest since 2007. The Shadow MPC is split 6‑3 on holding rates at 3.75%, with three members pushing...