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UK Basic Wage Growth Hits Record High, Sterling Rises

1 min read
Source: Reuters
UK Basic Wage Growth Hits Record High, Sterling Rises
Photo: Reuters
TL;DR Summary

The British pound rose after data revealed that UK wages grew at a record pace in the second quarter, raising concerns about inflation for the Bank of England. Wages excluding bonuses were 7.8% higher than the previous year, the highest annual growth rate since 2001. The Bank of England has warned that strong pay growth may necessitate further interest rate hikes.

Topics:business#bank-of-england#economy#inflation#interest-rates#sterling#uk-wages
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  1. Sterling rises as UK basic wage growth hits record high  Reuters
  2. UK Wages Grow at Record Pace Add to BOE's Inflation Concerns  Bloomberg
  3. Jobs report from the UK shows unemployment rate rose to 4.2% in June  FXStreet
  4. UK basic wage growth hits record, adding to Bank of England's worries  Reuters UK
  5. UK July payrolls change 97k vs -9k prior  ForexLive
  6. View Full Coverage on Google News

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