U.K. Jobs Report Bolsters Case For Bank of England Rate Cuts
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ING Economic and Financial Analysis4.96K FollowersFollow5ShareSavePlay(4min)CommentsSummaryWage growth is slowing quickly, at a time when the wider jobs market keeps cooling.The UK is becoming less of an outlier on inflation, and we expect a rate cut on Thursday and two further moves next year.Companies - especially in retail and hospitality - have been shedding workers this year, partly because of earlier tax and minimum wage hikes.
Getty Images By James Smith, Developed Markets Economist, UK Ask any Bank of England official, and they’ll tell you that sticky wage growth has been one of the central reasons it’s been cautious about cutting rates over the past coupleThis article was written byING Economic and Financial Analysis4.96K FollowersFollowFrom Trump to trade, FX to Brexit, ING’s global economists have it covered. Go to ING.com/THINK to stay a step ahead. We’re sorry we can’t reply to individuals' comments.Content disclaimer: The information in the publication is not an investment recommendation and it is not investment, legal or tax advice or an offer or solicitation to purchase or sell any financial instrument.This publication has been prepared by ING solely for information purposes without regard to any particular user's investment objectives, financial situation, or means. For our full disclaimer please click here.