Stubbornly high inflation and accelerating wage growth would seem to leave the BoE with little choice but to hike Bank Rate for what would be a thirteenth consecutive meeting on Thursday. The market consensus is another 25 basis point increase that would put the benchmark rate at 4.75 percent, its highest level since April 2008 and boost the cumulative tightening to some 465 basis points in just a year-and-a-half. In recent meetings, the MPC’s two main doves, Swati Dhingra and Silvana Tenreyro (the latter’s last meeting), have dissented in favour of no change but they may struggle this time to justify keeping rates ... (full story)