UK Wage Growth Accelerates as Labor Market Cools

The transcript discusses inflation pressures affecting the Bank of England, with average earnings rising by 6.7%. Market reactions to BOE bets and commentary from Hugh Pill suggest a potential end to the tightening cycle. The labor market remains tight but shows signs of cooling, impacting government priorities like reducing inflation and NHS waiting lists. Economic inactivity due to long-term sickness and industrial action poses additional challenges.

What was the percentage increase in average earnings excluding bonuses in the three months to March?

• 7.2%

• 6.0%

• 6.7%

• 5.5%

What did the markets primarily focus on according to the transcript?

• Interest rates

• Payroll numbers

• Unemployment rates

• Inflation rates

What was the chief economist at the Bank of England's hope regarding the bank's policy?

• To decrease inflation

• To end the tightening cycle

• To increase interest rates

• To stabilize the currency

What is one of Richard Cenac's top priorities for the government?

• Boosting employment

• Raising interest rates

• Reducing NHS waiting lists

• Increasing GDP

What has contributed to the economic inactivity problem according to the transcript?

• High inflation

• Industrial action

• Increased exports

• Low interest rates