UK pay growth cools, keeping BoE on track for another rate cut

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LONDON: British pay growth cooled in the three months to July to a more than two-year low and employment shot higher, according to data on Tuesday which is likely to keep the Bank of England on track to cut interest rates again before the end of the year.

But the ONS repeated its warnings about the flaws of the Labour Force Survey, which produces employment and unemployment data, but not the headline wage figures.

In July, Britain's new finance minister Rachel Reeves approved pay rises of at least 5% for millions of public sector workers.

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Category: EconomyBusiness

Markets: Malaysia

Topics: /Business/Business News Policy Growth Economy Bank of England Pay Salary Inflation Interest rate

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-10 @ 19:45:00 (2 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 605 words

Reading Time: 4 minutes read

Sentences: 23 lines

Sentence Length: 27 words per sentence (average)

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Copyright Owner: © The Star

News ID: 22448410

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