Projections in the Bank of England's quarterly inflation report are likely to cement expectations that interest rates will not rise until well into next year.
After the cuts in growth and inflation projections the BoE is expected to leave the interest rate at the long-term low of 0.5%.
"What really matters is the broad process of monetary policy, not a specific date for the first interest rate rise", Governor Mark Carney said
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.