Sadly Andrew Bailey still doesn't get it. Having raised rates again on 11 May UK Plc and households across the country will be looking at ways to cut their costs even further. He expects the population to ignore rising costs and not demand increased wages to meet those costs.
He is now stating that we are seeing wage price pressure on inflation. What world does he live in? Presumably he has a chunky salary and gold plated pension and, we assume, never talks to 'ordinary' people on high streets across the country. If he did, he would realise just how ridiculous his comments are.
Of course people facing financial disaster are asking for increased pay to meet those costs and mortgage payments are a major part of those increased costs.
Hopefully Andrew will listen to his former colleague Andy Haldane who has recently joined those of us calling for a pause to these rate rises
Time will tell but, on the basis that past performance is a good indicator of future performance we are not convinced he will listen.