As per my previous post we’ve seen a fall in the pound having looked perky ahead of the data
Weaker wages should be no surprise really. In an nutshell it’s more people in work but earning less money and not keeping up with inflation. Not good for household income and adds to the MPC dilemma on interest rate hikes
The ONS said average wage rises were affected by an unusually high number of employees deferring bonus payments until after the top rate of tax was cut from 50p to 45p last year which skewed year on year comparisons.
We shall hear more from Carney & Co at 09.30 GMT
You can watch it all live here