Blanchflower Says a BOE Rate Raise Is 'Clearly Wrong'

The video discusses the current economic situation, highlighting inflation at its highest in four years and real pay declining by 0.4%. The speaker argues against raising interest rates, citing historical examples and the current economic context, including Brexit. The focus is on the potential negative impact of rate hikes on consumer demand and economic growth, which is already slow in the UK. The recommendation is to wait and observe the Brexit negotiations, with a potential future rate cut being more likely.

How does the speaker view the relationship between consumer demand and real wages?

What is the speaker's expectation regarding future inflation and interest rates?