LONDON — Andrew Bailey has a new focus. The Bank of England governor is paying closer attention to pay rises in government-funded jobs. They have outpaced those in the private sector for a full year now. That stretch marks the longest since 2021, and before then 2011. Bailey made the comments in an interview whose transcript the Financial Times published Monday. “We have got more of a wedge opening up between private-sector pay and public-sector pay,” he said. Traditionally the central bank has placed far more emphasis on private sector wages. Those adjust quickly to economic conditions. They feed more directly into company pricing decisions. But doubts are creeping in. “Traditionally … we’ve put much more weight on private sector pay because we think it feeds more directly through enterprises. But I think the more that wedge opens up, you start to have a few doubts on that front,” Bailey added. The numbers back his concern. Public sector pay rose 4.8 percent annually in the first quarter of 2026.…