Why is the Bank of England considering an interest rate rise?

Rising inflation and winding down of Covid likely to weigh on central bank's decision makers

• Coronavirus - latest updates
• See all our coronavirus coverage

Inflation could be about to run out of control, spurring workers to demand higher wages to protect their living standards. A self-perpetuating spiral of higher wages leading to higher inflation is the fear that stalks all central banks. There is also a growing sense among some policymakers that the pandemic emergency is over, and so the emergency cut in interest rates from 0.75% in March 2020 should be reversed.