UK pay growth slows before crunch interest rates decision
UK wage growth decelerated in the latest data, arriving just ahead of the Bank of England's interest‑rate decision. The slower increase could influence the upcoming adjustment of the state pension's triple‑lock guarantee. Meanwhile, rising oil prices are adding to cost‑of‑living pressures, tightening the inflation squeeze on households. Policymakers will weigh the data as they consider whether to raise rates further to curb price rises.