A key bond yield moved near a 15-year high on Tuesday after jobs data suggested the Bank of England may need to raise interest rates further to damp inflation.
Bank... A key bond yield moved near a 15-year high on Tuesday after jobs data suggested the Bank of England may need to raise interest rates further to damp inflation. Bank of England Governor Andrew Bailey said in a speech on Monday that the resilience of Britain’s economy had increased wage and demand pressures, contributing to “sticky” high inflation.
“The latest U.K. wage data is a blow for the Bank of England in its battle against high inflation,” said James Smith, developed market economist at ING. Smith did note progress, however, as the number of people inactive continued to fall.