Deputy governor feels MPC will need more convincing that wage pressure is abating
The Bank of England needs to see a steeper and prolonged easing of pay growth before concluding its battle against wage inflation has been won, one of its deputy governors has warned.
In the latest sign that Threadneedle Street has no immediate plans to cut interest rates, Ben Broadbent said that in the current uncertain environment it was too early to say the labour market was cooling.
Continue reading…Deputy governor feels MPC will need more convincing that wage pressure is abatingBusiness live – latest updatesThe Bank of England needs to see a steeper and prolonged easing of pay growth before concluding its battle against wage inflation has been won, one of its deputy governors has warned.In the latest sign that Threadneedle Street has no immediate plans to cut interest rates, Ben Broadbent said that in the current uncertain environment it was too early to say the labour market was cooling. Continue reading…