Morning Call: The Bank of England has lots more pain to inflict

Inside: Inflation is rising less fast than expected – but is it enough?

Will

Good morning. Will here, while Freddie is on holiday. Readers who have attempted to move a grand piano sideways across an ice rink will know how policymakers at the Bank of England felt yesterday: you scrabble at the ice, slipping and falling, desperately trying to overcome the friction of the mass in front of you. It seems as if nothing is happenin…