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BoE needs to see higher wages before thinking about rate hike

A gift of higher wages wouldn't be taken for granted by Bank of England (BOE) Governor Mark Carney, who has asked to see a 3 percent bump in wage growth by year-end before he would even consider raising the U.K.'s record-low interest rate
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GBP/USD Daily Forecast – 29 December

With no major data releases on yesterday, and with holiday season tighter range trading, markets are still speculating on fact is Sterling overpriced at the moment and when will BoE hike interest rates. Several Bank policymakers, including Governor Mark Carney and even hawkish rate-setter Martin Weale have played down the prospect of a rate rise in the next few months as a renewed fall in oil prices and weak wage growth keep inflation well below the Bank's 2pc target.

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GBP/USD Daily Forecast – 29 December

Sterling was pushed slightly lower in the course of the yesterday's session, but found support around 1.49 handle. However, there was lack of volatility, with UK banks being closed due to Boxing Day. Read more...

Sterling slightly lower in a tighter range Monday trade

With no major data releases on today, and with holiday season tighter range trading, markets are still speculating on fact is Sterling overpriced at the moment and when will BoE hike interest rates. Several Bank policymakers, including Governor Mark Carney and even hawkish rate-setter Martin Weale have played down the prospect of a rate rise in the next few months as a renewed fall in oil prices and weak wage growth keep inflation well below the Bank's 2pc target.
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