Voca argues against rate cut tomorrow

The figures suggest inflation in take-home pay is currently running at 5.8% on average among the FTSE 350, it says. The rate is higher at 7.4% in the “industry” sector – mining, construction, energy and utilities - up from an annualised rate of 6.5% in November last year, although it is down slightly at 4.8% in the services sector, from 4.9%. Either way, that rate of inflation is running well above the Bank's long-term consumer price index target of 2%, Voca notes. It adds its methodology excludes figures from the public sector, but that the high rates of wage growth in the private...