ING: Bank of England expected to cut interest rates once a quarter
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Odaily reports that in a report, James Smith, an economist at the Dutch International Group, wrote that the slowdown in wage growth in the coming year should keep the Bank of England stable on the path of interest rate cuts. Data released on Tuesday showed that the average wage growth in the UK accelerated again to 5.9% at the end of last year. However, other signs indicate that the job market is loosening, which should translate into a gradual slowdown in wage growth. Accompanied by easing inflation, this should give the Bank of England more confidence to continue cutting interest rates. The Dutch International Group expects the Bank of England to cut interest rates at a pace of once a quarter this year. (Gold Ten)
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