FXStreet (Edinburgh) – Chief Analyst Allan von Mehren at Danske Bank remarked today’s key events in the British economy.
Key Quotes
“In the UK the labour market report is set to be interesting after Bank of England governor Mark Carney said the time for a rate increase is ‘moving closer’.
“MPC member David Miles also stated that ‘the time to start normalisation is soon; that is not something to shrink from’.
“Both cited the strength of the labour market with rising wage growth as an important factor”.
“Wage growth has accelerated over the past year and is expected to rise to 3.0% y/y in May from 2.7% y/y in April (ex bonuses)”.
(Market News Provided by FXstreet)