UK wage growth falls sharply, raising hopes of interest rates cuts on horizon

Business | Business News Wage growth in the UK has slowed to the lowest rate for 10 months, reinforcing hopes that the Bank of England could consider cutting interest rates as the jobs market continues to cool. But official figures also revealed that earnings have outstripped price rises for the fifth month in a row, in a boost to workers amid the cost-of-living crisis. UK average regular earnings, excluding bonuses, increased by 6.6% in the three months to November, down from a revised 7.2% in the previous three months, the Office for National Statistics (ONS) said. There is every chance we see much more over the coming months…