Brexit fears have triggered pay restraint, Bank of England official suggests

Dave Ramsden says one of the reasons for his vote against raising interest rates was that workers were showing pay restraint

Britain's unusually weak pay growth could be caused by workers reining in their demands due to Brexit uncertainty, a senior Bank of England official has said.

In his first speech since joining the Bank from the Treasury, Dave Ramsden said the impact of the EU referendum on inflation had persuaded him to vote against an increase in interest rates earlier this month.