BoE Minutes Show All Members Agreed to Hold Rate
The just released labour market data in Britain has signaled rising wage pressures in the nation, with average pay in the private sector growing at a faster than expected pace between February and April this year. Additionally, the minutes of the BoE’s June meeting revealed that the decision to leave the interest rate at a record low was unanimous.
Across the Atlantic, the major focus is on the FOMC interest rate decision later in the day. Though recent commentaries by Fed officials have hinted at no tightening in June, the meeting would still be closely monitored for cues on the future timing of the interest rate rise. In Europe, Euro zone’s final inflation report for May is likely to be attracting less than normal attention amid lingering worries about Greece.