Home / Market Update / BOE’s Pill: Wage growth running too fast at present

BOE’s Pill: Wage growth running too fast at present

Bank of England Chief Economist Huw Pill said on Wednesday that wage growth in the UK is running too fast at present, as reported by Reuters.


These comments don’t seem to be having a noticeable impact on the British pound’s performance against its major rivals. As of writing, the GBP/USD pair was trading at 1.2235, where it was up 1.3% on a daily basis.

Pill further noted that the companies’ pricing pass-through was excessively high. “I don’t want people who are subject to political forces setting monetary policy,” Pill added.

Check Also

Silver Price Outlook: XAG/USD Surges to 14-Year High, Targets $40.00 Breakthrough

Silver hits its highest level since September 2011. Markets see an 87% likelihood of a …