UK wage growth outstrips inflation
Lower unemployment and above-target inflation reinforce May hike probability
Average wage growth in the UK in the three months to the end of February surpassed inflation for the first time in over a year, official data showed today (April 17), which may bolster the case for a rate hike in May.
The Bank of England increased its key policy rate for the first time in over a decade to 0.5% in November 2017. Back then, governor Mark Carney cited higher inflation pressures as one of the major reasons for the decision. The depreciation of the pound following the Brexit
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