MARKET OVERVIEW - Wage Data Will Not Alter BoE's Interest Rate Decision

Forex - Investec Economics argued that the UK's wage growth data released today is unlikely to change the Bank of England's interest rate decision. In the UK, regular wage growth in the private sector for the three-month period up to September was in line with the Bank of England's forecasts made in November, at 4.8%. Investec stated that the data is not expected to significantly alter the pace of interest rate cuts by the Bank of England. Wage growth including bonuses for the three-month period up to September was stronger than analysts' expectations, at 4.3% compared to the 3.9% forecast.