1001 GMT - Slowing wage growth over the coming year should keep the Bank of England secure on its rate-cutting path, economist James Smith at bank ING writes in a note. Average U.K. wages grew more rapidly again at the end of last year, reaching 5.9%, figures show Tuesday. But other signs point to a loosening in the jobs market, which should translate into a gradual deceleration in pay packets, Smith says. Accompanied by an easing in inflation, "this should give the Bank more confidence to keep cutting rates," he says. ING expects the BOE to cut borrowing costs at a rate of once per quarter this year. (joshua.kirby@wsj.com; @joshualeokirby)
(END) Dow Jones Newswires
February 18, 2025 05:02 ET (10:02 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.