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Wages And Confidence Point To Higher Rates

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Wages and confidence point to higher rates
Wed Jun 6, 2007 1:37PM BST
Wages are rising at their fastest in seven years as employers scramble to fill vacancies and consumer confidence is riding high, two reports showed on Wednesday, adding to pressure for higher interest rates.
The KPMG/REC report on jobs showed wages for permanent staff in May rose at their fastest rate since June 2000 when interest rates were pegged at 6 percent and the world economy was booming on the back of the dotcom bubble.
"The question appears to be when, rather than will, the Bank of England raise interest rates again?" said Howard Archer, economist at Global Insight. "There is a very real possibility that the Bank of England could raise interest rates by 25 basis points for a second month running tomorrow."

Come on, boys, +0.25% tomorrow! I've got 50 quid riding on it!

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