BoE minutes: little evidence of wage-price spiral forming

Close up of Bank Of England facade with the statue of Duke of Wellington Statue created by Francis Chantrey City of London England

Minutes from the Bank of England's Monetary Policy Committee (MPC) meeting, published on Wednesday, say most members felt there was little evidence that elevated inflation expectations were becoming entrenched in wage and price-setting.

Members of the committee examined whether the sustained period of above-target inflation might cause expectations of inflation to drift upwards, minutes from the May 4 and 5 meeting show.

They noted that even though inflation itself was forecast to fall back in

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