Faisal Islam

Come on, basically.

And we're sort of on par.

It's kind of wait and see.

They really do need to understand how long this is going to last before they can make a judgment, not just about where the inflation number goes, but whether workers and firms start to change their pricing fundamentally.

You know, we talked not just about food.

That hasn't happened.

It could be to come.

But some bread suppliers have said it's going to happen.

Some airlines have obviously been cutting flights and saying that travel fares are going to go up.

And now we've had the latest unlikely story, which is condom makers putting up prices by double digits.

on account of something to do with the straight-off hormones, which I should probably know, but I haven't followed that supply chain as carefully as I should do.

But that's the issue.

And so I think right now, they're going to make a decision next Thursday.

It looks like they're just going to wait and see how this transpires.

They're going to recalculate their forecasts.

but certainly the mood music from the Bank of England.

And by the way, the mortgage markets aren't waiting for the Bank of England.

They've already yanked up rates in a way that's tangibly impacted the housing market.

But in terms of those Bank of England rates, we wait and see.

They could go in any direction.