0959 GMT - Stronger-than-expected U.K. jobs data could restrict the Bank of England to only one more interest-rate cut in 2025, Berenberg's Andrew Wishart says in a note. U.K. average wage growth excluding bonuses in the 3-months to December increased to 5.9%, from 5.5% in the 3-months to November. The strong increase in wage growth is likely to drive up U.K. inflation, reducing the chances of BOE interest rate cuts, Wishart says. Markets price in two interest-rate cuts of 25 basis points each in 2025, LSEG data show. (miriam.mukuru@wsj.com)
(END) Dow Jones Newswires
February 18, 2025 04:59 ET (09:59 GMT)
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