Nomura Securities: Slowing wage growth increases expectations of a November interest rate cut by the Central Bank of England

On October 15th, Jin10 Data reported that according to a report by Nomura Securities research analyst, the latest UK labor market data shows that the rise in wages is slowing down, which increases the possibility of the Bank of England cutting interest rates in November. The normal wage rise in the private sector is a key indicator for the Bank of England. The monthly rise in August was only 0.22%, the lowest in seven months and showed a clear downward trend. The data shows that the market expects an 83% probability of a 25 basis point rate cut by the Bank of England in November.