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.
Hawks at the Bank of England were given fresh ammunition on Tuesday, as UK wages rose at a faster than expected pace in the 3 months to February, data released by the Office for National Statistics showed.
Average weekly wages rose 5.9% year-on-year, up modestly on the 5.7% recorded in January, but significantly higher than the 5.1% expected by City analysts. Real pay, reflecting the continued inflationary pressures in the UK, saw wages fall 4.1% y/y against CPI.
Just last week, Bank of England chief economist Huw Pill told an MNI webcast that UK pay growth has eased, despite the continued tightness of the labour market, evidenced by indicators of earnings across the whole economy and private sector. Moreover, high frequency indicators of momentum in wage developments appear to be easing. (MNI BRIEF: UK Inflation Still Seen Lower In Q2 - BOE Pill)
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.