BoE: UK Firms Lower Wage Increase Expectations

According to a survey conducted by the Bank of England, British companies' wage growth expectations for the next year decreased slightly during the three-month period leading up to November. The statement from the BoE indicated that the wage growth expectation for the coming year fell to 4.0%, a decline of 0.1 percentage points on a three-month moving average basis in November, although it remained close to the recent average. The BoE closely monitors wage growth while trying to gauge how much inflationary pressure remains in the British economy and assessing when to continue lowering interest rates.