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Bank of England Holds Rates Amid Wage Growth Concerns

11/19/2025

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Summary

Story summary

Bank of England Chief Economist Huw Pill said on November 18, 2025 that he does not anticipate major changes to his rate views.
Pill noted wage growth remains above levels compatible with the Bank's inflation target.
The Monetary Policy Committee voted 5-4 to hold rates.
Governor Andrew Bailey considered a December rate cut.
Pill urged caution with short-term data due to Office for National Statistics challenges.

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Story summary

Bank of England Chief Economist Huw Pill said on November 18, 2025 that he does not anticipate major changes to his rate views.
Pill noted wage growth remains above levels compatible with the Bank's inflation target.
The Monetary Policy Committee voted 5-4 to hold rates.
Governor Andrew Bailey considered a December rate cut.
Pill urged caution with short-term data due to Office for National Statistics challenges.