Shafik says that before deciding on rates she would look to see if private sector wages were rising above trend

Wage growth is only one of a range of key indicators the BOE will view and its relationship with productivity is key It’s right for the BOE to not start to unwind QE until interest rates are high enough to cut if needs Unwinding of QE can be dragged out for a very long period if needed so th…

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Shafik says that before deciding on rates she would look to see if private sector wages were rising above trend