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Evening Standard
Evening Standard
Business
Jonathan Prynn

Wages surge reduces chances of an interest rate cut this week

Unemployment The Bank of England
Workers are getting better off as wages rise above inflation - (PA Wire)

The already remote chance of an interest rate cut this week receded further today when latest earnings figures showed “red hot” pay growth accelerating.

Data from the Office for National Statistics (ONS) show that average earnings rose 5.2% in the August to October quarter, up from 4.9% in the previous three month period.

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