Softening UK Wage Growth Boosts Rate Cut Hopes

The UK wage growth softened in the three months to November suggesting that the upward inflationary pressures are cooling, and bolsters the case for interest rate cuts by the Bank of England. Average earnings including bonuses increased at a slower pace of 6.5 percent in the three months to November after a 7.2 percent gain in the preceding period, the Office for National Statistics said Tuesday

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