Average earnings in for the UK saw a growth of acceleration for the first time in more than a year reaching 5.2%. In the last month average earnings came in at 4.9%, now boosting confidence not only for a wage acceleration but also dampens markets speculation ahead of Thursdays interest rate decision from Bank of England.
In the last week we have seen percentages for a potential rate cut increase for Bank of England. This slow down GBP recent momentum against other currency pairs. The release this morning of stronger earnings in the UK have seen GBP/EUR gained 0.3% since the opening of Tuesday’s session, with percentages falling on a rate cut this Thursday. Main sectors behind the lift for average earnings is construction, finance business sectors who saw the largest pay rises.
CLICK HERE to read more.
