U.K. Economist Wood Says BOE Shouldn't Raise Rates

The transcript discusses the potential rate hike by the Bank of England, with arguments against it due to weak growth and lack of domestic inflation. The justification for the hike is based on supply pessimism and the belief that the UK economy can only grow at a limited rate. The discussion also covers future rate hike scenarios, the role of sterling in inflation, and market reactions to the Bank's decisions.

What are the reasons given for not hiking rates today?

How does the speaker describe the current state of wage growth?

How does the speaker characterize the relationship between sterling and inflation?

What is the expected inflation trend mentioned in the text?

What does the speaker suggest about the Bank of England's future rate hikes?