Institution: The Central Bank of England is expected to maintain the Interest Rate this week and hold a cautious stance on interest rate cuts.

On December 17, Jinshi Data reported that Matthew Ryan, Director of Ebury Market Strategy, said that the very strong UK private sector wage rise data almost certainly means that the Bank of England will emphasize the need for a slow and steady rate cut at the meeting to be held on Thursday. The average wage of ordinary UK employees has risen again, with a wage increase of 5.2% for the three months ending in October, excluding bonuses. The Bank of England is concerned that wage rises will trigger inflation and is almost certain to maintain the Interest Rate this week. It is expected that the Bank of England will strongly emphasize the need to gradually relax monetary policy by 2025, which may raise doubts about whether it will cut interest rates in February.

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