Commenting on UK labour data, Melanie Baker, Economist at Royal London Asset Management said:
"The continued picture of low unemployment and decent employment growth in today’s UK Labour Market Report looks consistent with a Bank of England rate rise in August. The slower headline pay growth is unlikely to be enough to persuade a majority of MPC members to hold back.
Looking beyond the August meeting, Brexit risks remain a strong reason for caution on the UK outlook for the economy and markets. They may also ensure that we get another sizeable gap before the next rate rise."
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Margherita Orlandini, Corporate PR Manager, Royal London
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About Royal London Asset Management (RLAM):
Established in 1988, Royal London Asset Management (RLAM) is one of the UK's leading fund management companies, providing investment management solutions to both wholesale and institutional clients such as not-for-profit organisations, local authorities and the insurance sector.
RLAM manages £114 billion of assets and employs 92 investment professionals as at December 2018. It invests in all major asset classes including UK and overseas equities, government bonds, investment grade and high yield corporate bonds, property and cash.
For professional clients only, not suitable for retail investors.
Issued February 2019 by Royal London Asset Management Limited, registered in England and Wales number 2244297; authorised and regulated by the Financial Conduct Authority. Registered Office: 55 Gracechurch Street, London, EC3V 0RL.
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