Reeves will hope weaker wage growth enables more interest rate cuts
Bank of England governor has said he sees pay as ‘crucial’ in determining pace of rate reductions
The downturn in the UK’s jobs market appears to be gathering pace, but the chancellor, Rachel Reeves, will hope that means slower wage growth will open the way to more interest rate cuts.
Unemployment has continued to rise, the Office for National Statistics (ONS) said, ticking up to 4.6% in the three months to April, from 4.5% in the three months to March. Continue reading...
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