Kirsty Styles chats to James Meadway, Senior Economist at the New Economics Foundation (NEF), about the Bank of England's inflation report and what it means for the UK economy and real wages in 2015. Jargon of the week: Inflation and deflation Listener question of the week: What are hedge funds? Links: Matthew Whittaker, “Boom time for wages?”, Resolution Foundation blog (17 February 2015): www.resolutionfoundation.org/media/blog/boom-time-for-wages-how-realistic-is-a-doubling-of-wage-growth-by-the-end-of-the-year Bank of England, “Overview of the Inflation Report”, February 2015: www.bankofengland.co.uk/publications/Pages/inflationreport/infrep.aspx CIPD, “Labour Market Outlook”, Winter 2014-15: www.cipd.co.uk/hr-resources/survey-reports/labour-market-outlook-winter-2014-15.aspx Kirsty Styles on Twitter: www.twitter.com/kirstystyles1 James Meadway on Twitter: www.twitter.com/meadwaj Music by Podington Bear, used under Creative Commons BY-NC Licence www.podingtonbear.com Soundcloud image by Bank of England, used under Creative Commons BY-ND Licence https://www.flickr.com/photos/bankofengland/14721059548/ Produced by James Shield & Huw Jordan