LONDON (Reuters) – British companies’ expectations for wage growth in the year ahead cooled a bit in the three months to November, a Bank of England survey showed on Thursday.
Expected year-ahead wage growth dropped by 0.1 percentage point to 4.0% on a three-month moving-average basis in November but remained close to its recent average, the BoE said.
The central bank is closely watching wage growth as it tries to gauge how much inflation pressure remains in the British economy and considers when to resume cutting interest rates.
(Writing by William Schomberg, editing by Andy Bruce)
