In this episode, Escala Partners CIO, Tracey McNaughton, discusses the challenges facing the Bank of England as it attempts to deal with its first wage-price spiral since the 1970s. It's the nightmare that haunts central bankers everywhere and is one reason why interest rates will remain higher for longer.

(0:48) - Central banks over the past few weeks have been surprising markets everywhere as the fight against inflation continues.

(5:00) - It is interesting you say the Bank of England governor is concerned inflation is not coming down fast enough.

(7:33) - The question on everyone's mind is where is the next problem to arise as a result of this rapid rate hike cycle?

(10:16) - Why were so many of these loans unhedged?

(12:00) - Given the surge in interest in private markets, is it possible the private equity market will break before the public one does?

(14:11) - July 14th is when the all-important US earnings season kicks off. What are you looking for?