# Bank of England’s Greene Challenges Wage Benchmark Before November Meeting By Riza Dagoc Canonical URL: https://www.tokenpost.com/news/regulation/36350 Published: 2026-10-21T04:50:26.000Z Updated: 2026-10-21T04:50:26.000Z Section: Regulation > The bank estimates that pay growth of about 3.25% is consistent with its 2% inflation target. Greene pointed to indicators of higher wage growth. Bank of England Monetary Policy Committee member Megan Greene questioned the bank’s estimate of pay growth consistent with its 2% inflation target, sharpening debate over interest rates before a November decision. The bank’s longer-term estimate puts target-consistent pay growth at about 3.25%. Greene raised concerns about that benchmark and pointed to forward-looking indicators of higher wage growth. Her remarks indicated a preference for tighter monetary policy, but did not establish an explicit call for a rate increase. Bank Rate stands at 3.75%, and UK inflation was 3.1%, above the bank’s target. The pay-growth estimate is part of the policy debate as committee members assess inflation pressure ahead of their next decision. [Bank of England Chief Economist Huw Pill has also emphasized inflation control](). Greene’s concerns add another view to that debate, though one member’s position does not determine the committee’s decision. Market pricing has indicated a low likelihood of a rate cut and some expectation of an increase. The Monetary Policy Committee’s next rate decision is due in November. ## Links in this article - [Bank of England Chief Economist Huw Pill has also emphasized inflation control](https://www.tokenpost.com/news/regulation/27911)