0643 GMT - Growing pay packets for British workers will remain at the forefront of the Bank of England's mind, MHA economic adviser Joe Nellis tells investors in a note. Average regular pay rose 5.2% over the three months to April. It lost pace from the previous period, but is still faster than inflation and too rapid for the BOE's comfort, Nellis says. "While this is putting money in the pockets of consumers and encouraging spending in the economy, rising wages in the absence of an increase in productivity have an inflationary effect that the Bank of England is acutely aware of," he says. That will keep the bank's policy cautious for now, Nellis says. (joshua.kirby@wsj.com; @joshualeokirby)
(END) Dow Jones Newswires
June 10, 2025 02:43 ET (06:43 GMT)
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