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Trading news
17 Apr 2015
UK Wages diminish need to raise UK rates - RBS
FXStreet (Guatemala) - Analysts at RBS explained that wages reinforces a dovish BoE stance.
Key Quotes:
"Overall, wage inflation data leave the BoE's forecasts (and much of the City consensus) off-side. Wage inflation continues to undershoot forecasts, with little serious evidence of that any meaningful pick-up is imminent."
"April remains the key month – so it will not be for another couple of months that we will have more definitive data on this – but we either need to see big upward revisions to back data and/or a marked pick-up in wage inflation over the next 2 months."
"Pressure on the BoE to raise Bank Rate continues to diminish."
Key Quotes:
"Overall, wage inflation data leave the BoE's forecasts (and much of the City consensus) off-side. Wage inflation continues to undershoot forecasts, with little serious evidence of that any meaningful pick-up is imminent."
"April remains the key month – so it will not be for another couple of months that we will have more definitive data on this – but we either need to see big upward revisions to back data and/or a marked pick-up in wage inflation over the next 2 months."
"Pressure on the BoE to raise Bank Rate continues to diminish."