Market Analysis

Official figures indicate that British core wage growth has decelerated once again, marking its weakest increase since the three months leading up to September 2022. 

According to the Office for National Statistics, regular wages excluding bonuses saw a 6.0% growth in the three months to February compared to the same period a year ago, down from the 6.1% rise observed in the November-to-January period. 

Economists surveyed by Reuters had anticipated a larger slowdown to 5.8% in regular wage growth, which is closely monitored by the Bank of England as it deliberates on potential interest rate adjustments. 

The publication of this data led to a slight decline in the value of the pound against both the U.S. dollar and the euro. Meanwhile, total pay growth, inclusive of more volatile bonus payments, remained steady at 5.6%.

Paraphrasing text from "Investing UK" all rights reserved by the original author.