Public sector pay, Bank of England, Business, Inflation, Politics, Interest rates, UK news Business | The Guardian
Bank’s governor says planned awards of 5-6% would have relatively small impact on headline inflationBank of England cuts interest rates to 5% in first reduction since March 2020The governor of the Bank of England has dismissed concerns raised by the Conservatives that the new government’s plans for public sector pay rises would risk stoking inflation and keep interest rates higher for longer.After the Bank cut the cost of borrowing for the first time since March 2020, senior Tories including Rishi Sunak and Jeremy Hunt said above-inflation salary increases for teachers, nurses and other public sector workers could delay further rate reductions. Continue reading…
Bank’s governor says planned awards of 5-6% would have relatively small impact on headline inflation
Bank of England cuts interest rates to 5% in first reduction since March 2020
The governor of the Bank of England has dismissed concerns raised by the Conservatives that the new government’s plans for public sector pay rises would risk stoking inflation and keep interest rates higher for longer.
After the Bank cut the cost of borrowing for the first time since March 2020, senior Tories including Rishi Sunak and Jeremy Hunt said above-inflation salary increases for teachers, nurses and other public sector workers could delay further rate reductions.
