UK Wages diminish need to raise UK rates - RBS

FXStreet (Guatemala) - Analysts at RBS explained that wages reinforces a dovish BoE stance.

Key Quotes:

"Overall, wage inflation data leave the BoE's forecasts (and much of the City consensus) off-side. Wage inflation continues to undershoot forecasts, with little serious evidence of that any meaningful pick-up is imminent."

"April remains the key month – so it will not be for another couple of months that we will have more definitive data on this – but we either need to see big upward revisions to back data and/or a marked pick-up in wage inflation over the next 2 months."

"Pressure on the BoE to raise Bank Rate continues to diminish."