LONDON, Oct 30 (Reuters) – Bank of England surveys released on Friday showed businesses expect to raise pay by around 3.5% next year, similar to current rates but a level likely to concern those policymakers most anxious about broader inflation pressures.
The Bank of England’s Decision Maker Panel survey of businesses in the three months to October said firms expected wage growth of 3.4% over the next year, unchanged from the previous reading taken in the three months to September.The BoE’s Agents’ Summary of Business Conditions – a separate survey – reported that firms expected average pay settlements for 2027 to be around 3.6%, similar to this year but slightly higher than previously forecast.
Reporting by David Milliken; editing by William James
