Carney should heed employment experts before rate decision | Larry Elliott

Bank of England – set for August rise – has been consistently wrong about labour marketThe message from the Bank of England has been clear: get ready for an August increase in interest rates. Modestly higher official borrowing costs are needed to prevent the economy from overheating.This, of course, is exactly what Threadneedle Street was saying three months ago. Back then it had convinced the City that a May rate increase was pretty much a done deal but then got cold feet as weak ec