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Bank of England's Cunliffe wants to see wage growth before backing rate hike

Reuters  |  LONDON 

By David MillikenLONDON (Reuters) - Bank of England Deputy Governor Jon Cunliffe - one of the two policymakers who opposed this month's rise in interest rates - said on Tuesday he preferred to wait for clearer signs that wage growth is picking up before he backs higher rates.Limited evidence that the British economy was generating too much inflation pressure meant the BoE could afford to hold off on rates, rather than relying too heavily on theories about how growth, inflation and wages are linked, he said.The BoE's Monetary Policy Committee voted 7-2 to raise rates for the first time in ...

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First Published: Tue, November 14 2017. 23:03 IST