Mark Carney, the Governor of the Bank of England (BoE) has said that inflation is more than likely to fall below 1% over the next six months. Its growth expectations for next year have been cut from 3% to 2.9%.
Bank of England says inflation "more likely than not" to fall below 1% in next 6 months. Economic growth will be slower than expected
Inflation likely to remain close to 1% for next year with pay almost double that, says Mark Carney.
Wages are rising faster than inflation for the first time since 2009 - but has it come late to influence next May's general election?
Investors in the markets have already made their bets: traders reckon the wage data brings a possible rise in interest rates sooner.