ChainCatcher news, Matthew Ryan, Market Strategy Director at Ebury, stated that the very strong growth in private sector wages in the UK almost certainly means that the Bank of England will emphasize a slow and steady approach to interest rate cuts at the upcoming meeting on Thursday.

The average wage of UK employees has rebounded again, with a wage increase of 5.2% excluding bonuses for the three months ending in October. The Bank of England is concerned that wage growth could trigger inflation, and it will almost certainly maintain interest rates this week. The Bank of England is expected to strongly emphasize the necessity of gradually easing monetary policy in 2025, which may raise doubts about whether it will cut interest rates in February. (Jinshi)