What is the Bank of England thinking?

The rhetoric from the Bank has clearly turned hawkish. They may be trying to be too clever by half.

The Bank of England is sounding increasingly hawkish. On Sunday Andrew Bailey, the Governor, told the G30 group of central bankers that he was concerned about “medium-term inflation and medium-term inflation expectations”. He then went on to say, “that’s why we, at the Bank of England, have signalled, and this is another such signal, that we will have t…