- Changing expectations is the first defense against a reinforcing wage-price dynamic
- If the effects of supply-demand imbalances in 2021 continue, we coudl see another jump in wages and prices in 2022
- To the extent that global inflation underpins UK domestic inflation, monetary policy's reaction would have to be more severe than appropriate for domestic conditions alone
- Inflation data since November haven't been consistent with stabilization
- To the extent that financial markets are already cautioning decisions, the next steps could exhibit a shallower path
Some important comments here but some are more-hawkish and some less.
