BOE Governor Says Wage Rises Could Come Next Year

Bank of England governor Mark Carney has told the UK’s trades unions that wages should start rising in real terms “around the middle of next year” and “accelerate” afterwards.

Addressing the annual conference of the TUC, he said workers “deserved” more money and added that unemployment should fall to 5.5%.

Mr Carney said that interest rates should start rising next Spring

But he insisted there was “no timetable” for future increases.

Mr Carney is only the third Bank of England governor to address the organisation’s annual conference, following Eddie George in 1998 and Mervyn King in 2010.

His speech in Liverpool comes as the economy is recovering, with growth of 0.8% in each of the first two quarters of this year.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza