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.
UK wage growth slowed again in the three months to January, the Office for National Statistics said Tuesday, with total and ex-bonus outcomes below both Bank of England and market expectations.
Total wage growth was 5.6%, down from 5.8% in the previous period and 0.1pp below forecast. Ex-bonuses, wages rose 6.1% year-on-year.
ONS director of economic statistics Liz McKeown said recent trends in the jobs market are continuing "with earnings, in cash terms, growing more slowly than recently but, thanks to lower inflation, real terms pay continues to increase".
The Bank of England will welcome the slowdown in wages growth, although the overall levels are still running at levels they will be uncomfortable with. (see MNI INTERVIEW: BOE Right To Be Cautious Over Cuts - NIESR)
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.