UK wage growth slows, possibility of central bank rate cut intensifies
On Tuesday, the GBP / JPY currency pair fell slightly after data showed UK wage growth slowed further in the three months to November, reinforcing investor expectations that the Bank of England will cut interest rates sharply this year.。
On Tuesday, the GBP / JPY currency pair fell slightly after data showed UK wage growth slowed further in the three months to November, reinforcing investor expectations that the Bank of England will cut interest rates sharply this year.。
- Average weekly pay, including bonuses, rose 6.5% for £666 a week。This is the slowest wage growth since the March 2023 period.。
- Average wages in both the public and private sectors grew at a slower year-on-year rate of 6.6% (compared to 7 in October.2%), the private sector is 6.4% (compared to 7 in October.1%)。
- Regular pay, excluding bonuses, rose 6.6%, compared with the previous period of 7.2% slowdown, also in line with market expectations。
- UK's seasonally adjusted unemployment rate for three months to Nov 4.2%, unchanged from August to October。
- During this period, the UK employment rate rose to 75.8%, while the economic inactivity rate from the previous 20.9% to 20.8%。
- The Bank of England will hold its next policy meeting on February 1.。
- GBP / JPY down 0 as of Tuesday 08: 10 GMT.18%, at 185.072。The less-watched forex currency pair has risen from 186 on January 11..161 5 - week high callback。
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