MNI BRIEF: PBOC Added Outright Repo For Ample Lqdty In Nov

MNI China Daily Summary: Friday, November 29

MNI: GERMANY NOV UE RATE (SA) 6.1% (FCST 6.1%); OCT 6.1%

MNI BRIEF: China Extends U.S. Import Tariff Exemption List

MNI BRIEF: Trump Tariffs To Push China, EU Cooperation - BOC

MNI: PBOC Net Drains CNY156.1 Bln via OMO Friday

MNI: ITALY NOV FLASH HICP +0% M/M, +1.6% Y/Y

MNI: EUROZONE NOV FLASH HICP +2.3% Y/Y

MNI: UK OCT M4 MONEY SUPPLY -0.1% M/M, +3% Y/Y

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Two ways of looking at private sector average weekly earnings (1/2)

UK DATA
  • The Bank of England’s forecast for Q2 private average weekly earnings is 5.141%. This would be a deceleration from the 5.56%Y/Y in the 3-months to May and 5.88%Y/Y in Q1. 5/6 of the previews that we have read look for 5.2%Y/Y in Q2, slightly above the BOE’s forecast. The BOE forecast (rounded to 1dp) was unchanged from the May MPR forecast and we would concur that risks seem to skew to the upside.
  • Labour market data is compiled from data that only produces a stratified random sample when 3 months of data (cohorts) are combined (hence the headlines looks at it the 3-month Y/Y print). At this point of the year, when there have been a number of salary negotiations and the NLW increase in April, one of our preferred ways to look at private AWE is to look at how much earnings increased for the cohort last month (1.6ppt) and add that to the cohort that will be surveyed in June. If we do that we would get a single month Y/Y print of 5.08%Y/Y in June (up from 4.90%Y/Y in May) but the 3-month average would fall back to 5.28%Y/Y in the 3-months to June (i.e. Q2).
Data BulletDataHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.