Published data shows that in the three months up to August, the UK wage growth rate fell to its lowest level in more than two years, and job vacancies declined again. As the Bank of England considers when to cut interest rates again, these data are likely to be welcomed by the central bank. Previously, the Bank of England cut interest rates in August, but kept interest rates unchanged at the September meeting, and said it hoped to see further signs that inflationary pressure was weakening. According to surveyed economists, the data to be released on Wednesday is expected to show that the UK's CPI for September will drop to 1.9%, which is lower than the Bank of England's target of 2%, but core inflation may strengthen. Meanwhile, on Monday, investors thought it was more than 80% likely that the Bank of England would cut interest rates in its next monetary policy statement in November.

Published data shows that in the three months up to August, the UK wage growth rate fell to its lowest level in more than two years, and job vacancies declined again. As the Bank of England considers when to cut interest rates again, these data are likely to be welcomed by the central bank. Previously, the Bank of England cut interest rates in August, but kept interest rates unchanged at the September meeting, and said it hoped to see further signs that inflationary pressure was weakening. According to surveyed economists, the data to be released on Wednesday is expected to show that the UK's CPI for September will drop to 1.9%, which is lower than the Bank of England's target of 2%, but core inflation may strengthen. Meanwhile, on Monday, investors thought it was more than 80% likely that the Bank of England would cut interest rates in its next monetary policy statement in November.