Surging inflation is causing headaches for a cautious Bank of England


View of the Royal Exchange and Bank of England in London.

Vuk Valcic | SOPA Images | LightRocket | Getty Images

LONDON — The Bank of England is expected to hold interest rates at record lows and maintain its massive asset purchase program on Thursday, but investors will be looking out for hints at tightening next year.

The central bank’s latest monetary policy meeting will be a swan song for hawkish chief economist Andy Haldane, who has warned that the “tiger of inflation” is incoming and urged policymakers to cut the bank’s £895 billion ($1.24 trillion) quantitative easing program by £50 billion.

U.K. consumer price inflation came in at 2.1% in May, exceeding forecasts and surpassing…


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