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Carney Still 'Unreliable Boyfriend'

MARKET REACTION: The latest Quarterly Inflation Report revealed that average UK earnings fell in June, and Mark Carney was forced to half wage inflation predictions

Wages in the UK fell in June for the first time since the credit crisis, prompting the Bank of England to half its wage inflation forecast for the year from 2.5% to 1.25%.

In the today’s Quarterly Inflation Report, Bank of England governor Mark Carney hinted that interest rates will not rise soon as wage growth remain subdued.