UK Firms Plan 3.8% Pay Rises in Next Year, BOE Survey Finds

UK companies expect to increase wages by 3.8% over the next year, according to a Bank of England survey that’s likely to fuel concerns among some rate-setters about sticky inflation.

The Decision Maker Panel poll of chief financial officers will be closely scrutinized by officials at the UK central bank ahead of their crunch rates decision this month. Its readings on pay growth in particular have recently been cited by hawks including Catherine Mann and Megan Greene.