Bank of England under pressure to raise rates after record jump in basic pay
by Phillip Inman from on (#6DVM5)
ONS data shows employers shed workers on back of slowdown in economic activity
The Bank of England is under renewed pressure to raise interest rates next month after wages jumped more than expected in June, boosted by a one-off payment to NHS workers.
A rise in borrowing costs is likely even though the latest figures for the UK labour market also showed employers had begun to shed workers in response to a slowdown in economic activity.
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