Don’t rule out half-point interest rate rise after pickup in UK wage growth
by Larry Elliott Economics editor from on (#6C5Y3)
Bank of England had been looking for signs of labour market softening so it could take foot off brake
The resilience of Britain's labour market has been a feature of the post-pandemic economic landscape, and that unexpectedly strong trend shows few signs of ending.
The 12 consecutive increases in interest rates that have taken borrowing costs from 0.1% to 4.5% since December 2021 are affecting house prices but they have yet to put much of a dent in demand for workers.
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