Research analysts at Nomura Securities said in a report that the latest UK labor market data shows that wage growth is slowing down, which increases the possibility that the Bank of England will cut interest rates in November. Normal wage growth in the private sector is a key indicator for the Bank of England. The monthly increase in August was only 0.22%, the lowest monthly growth rate in 7 months, and showed a clear downward trend. According to the data, the market expects an 83% probability that the Bank of England will cut interest rates by 25 basis points in November.

Research analysts at Nomura Securities said in a report that the latest UK labor market data shows that wage growth is slowing down, which increases the possibility that the Bank of England will cut interest rates in November. Normal wage growth in the private sector is a key indicator for the Bank of England. The monthly increase in August was only 0.22%, the lowest monthly growth rate in 7 months, and showed a clear downward trend. According to the data, the market expects an 83% probability that the Bank of England will cut interest rates by 25 basis points in November.