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Bank of England policymaker is behind the curve on wages

So it was an apology of sorts, but with a sting in the tail: Bank of England policymakers don’t like to say sorry. It was in this vein that Ian McCafferty – a former chief economist for the CBI, who joined the Bank’s nine-strong monetary policy committee (MPC) in the autumn of 2012 – said he had twice made the mistake of calling for higher interest rates.