It’s largely because growth in productivity (and therefore pay and living standards) has been so historically weak for the last 13 years, that the decision-makers on its Monetary policy Committee have only just got up the gumption, in the inflationary storm of the last two months, to start raising them again.
https://www.bbc.co.uk/news/business-60390527?at_medium=RSS&at_campaign=KARANGA,
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