The slowdown in UK wage growth may prompt the central bank to further cut interest rates

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The slowdown in UK wage growth will likely prompt the central bank to cut interest rates. The market generally expects the central bank to cut interest rates further in the future to cope with the economic slowdown.

According to Jin10 data, economists at Bank of America stated that the slowdown in wage growth in the UK may support further interest rate cuts by the Bank of England. The average wage increase excluding bonuses fell to 5.6% in March.
Market expectations are that the Bank of England will cut interest rates again before the end of 2025. Bank of America expects three rate cuts in August, September, and November, bringing the policy rate down to 3.5%.

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The slowdown in UK wage growth may prompt the central bank to further cut interest rates

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