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but they re still not keeping up with price rises, the average workers getting significantly poorer. what s not to like about faster than expected pay rises? the problem from the bank of england s point of view is that employers might have to charge higher prices in order to cover the higher cost of their pay bill, and then employees might think they need a bigger pay rise to cover those higher prices, and then you get a wage price spiral where both of them keep on rising. that s what the bank of england s afraid of. economists now think the bank of england will boost its official interest rate next week for the 13th time to try and stop a wage price spiral. it could mean that the bank of england has to raise rates beyond next week and then we could see the bank rate or base rate at 5% and above. looking beyond that, really, we see relatively few prospects of interest rates coming down, unfortunately, before the end of this year. there are some signs that the jobs market is cooling a l

Bank of englandPrice risesPoint of viewWage price spiralPay billAfraid ofInterest ratesInterest rateBank rateBase rateJobs market