For Carney, wages are the only true window to the future

The current economy seems to defy the Bank of England’s predictions. Perhaps that is because pay growth has become so much harder to forecastOn the face of it, the Bank of England’s freshly minted forecast for this year looked rosy. A glance at the headline figure of 2% growth in the quarterly inflation report was much better than the Bank’s gloomy forecast last year of 0.8%.A 2% growth rate will again put the UK in the top rank of developed world nations and have City analysts