BoE’s Pill cites persistent pay growth and underlying inflationary pressures

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BoE's Pill cites persistent pay growth and underlying inflationary pressures

At a conference today, BoE Chief Economist Huw Pill referred to today’s UK labor market data, noted that wage growth remains “quite sticky at elevated levels,” which he characterized as “hard to reconcile” with the inflation target, given current productivity growth expectations. While acknowledging the significant disinflation seen in recent months, which has allowed for […]

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