Dave Ramsden, deputy governor of markets and banking at the Bank of England and member of BoE’s Monetary Policy Committee, has admitted he has grown increasingly uncertain about the future of the UK labour market.
Speaking at the Bureau for Economic Research at South Africa's Stellenbosch University today (28 February), Ramsden said there are some "concerning developments" in short-term economic indicators emerging in the UK market, in particular on wage growth. On the resilience of pay growth, Ramsden questioned the most recent data from the Office for National Statistics' (ONS) Labour Force Survey (LFS) which stated that employment grew by 0.3% in the three months to December 2024. Treasury reveals meeting between Reeves and BoE's Bailey on outlook for UK financial stability "This series...
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