0742 GMT - While U.K. wage growth remains too high, U.S. tariffs may mean the Bank of England may worry less about inflation from pay growth and more about downside risks to activity, Capital Economics economist Ashley Webb says in a note. Average earnings growth excluding bonuses rose to 5.9% in February, while the unemployment rate stayed at 4.4%. However, the payroll data for March provides some tentative evidence that businesses started to respond to rises in business taxes and minimum wage from this month by reducing headcount, Webb says. Should the U.S. tariffs chaos becomes a big drag on firms' hiring intentions, pay growth could start to fade more markedly, with the BOE then cutting rates faster than expected, he says. (edward.frankl@wsj.com)
(END) Dow Jones Newswires
April 15, 2025 03:42 ET (07:42 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。