There may be precautionary savingHouseholds inflation expectations are at the very top of what we can explainToday's wage data is good news as a bit lower than expectedWage settlements data for next year from surveys is higher than we would like to seeThere are uncertainties around the domestic economyI am worried about inflation persistence in UK, means monetary policy needs to be more restrictive than otherwiseI'm not convinced monetary policy is meaningfully restrictive in the UKBoE's Greene has held a hawkish stance for months, so these comments are not surprising. In fact, this is pretty much what we saw in the Minutes of last week's BoE Monetary Policy Summary that you can find here. This article was written by Giuseppe Dellamotta at investinglive.com.