UK Wage Growth Slows, Paving Way for Potential Interest Rate Cuts

Bank of England closely monitors easing wage growth as economic indicators suggest more rate cuts could be on the horizon.

UK average earnings growth fell to a two-year low of 5.1% in the three months to July.
Private sector wage growth decreased sharply to 4.9%, supporting the case for a rate cut.
Unemployment rate slightly dropped to 4.1%, though job market indicators remain mixed.
Vacancies decreased by 42,000, with PAYE figures showing a decline in payrolled workers.
Economists predict the Bank of England may cut rates to 4.75% in November.