Labour’s pay
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UK News
Bank of England mulls interest rate cut as wage hikes persist
Concerns have been voiced that Labour’s significant pay agreements may hinder the Bank of England from reducing interest rates tomorrow. The Bank faces a difficult decision on whether to lower borrowing costs from the 16-year peak of 5.25 per cent. Prospects improved when inflation returned to the Bank’s 2 per cent target after nearly three years of high living costs.…