A second successive jump in the UK minimum wage will keep the Bank of England on high alert for signs of pay growth feeding inflation, even as broader price pressures in the economy start to ebb.
Official figures last week showed UK wage growth finally slowing from record highs, with average earnings, excluding bonuses, just 3.5 per cent higher in the three months to January than the previous quarter.
The BoE is expected on Thursday to hold interest rates at 5.25 per cent, as it waits for more evidence of cooling pay growth and inflation. New data on consumer prices will be published on Wednesday.
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