Although the Bank of England (BoE) held a cautious outlook for growth, heightening price pressures in the U.K. will limit the scope for additional monetary support as the economy emerges from the double-dip recession. Indeed, we’ve seen a growing number of central bank officials highlight the stickiness in consumer price growth, and the meeting minutes may reveal a growing rift within the Monetary Policy Committee as the central back no longer sees a risk of undershooting the 2% target for inflation. Above-target inflation along with the uptick in wage growth is likely to stoke greater concern for price stability, ... (full story)