The Bank of England said on Tuesday it would extend its weekly indexed long-term repo operations longer than previously planned to ensure commercial banks continue to have adequate sterling liquidity.
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Average weekly earnings, including bonuses, rose by 3.3 per cent on the year, their biggest rise since the three months to July 2008 and comfortably beating a median forecast of 3.0 per cent in a Reuters poll of economists.
The BoE said the only alternative for its polymer banknotes was to use more expensive chemicals derived from palm oil and that its suppliers were unable to commit to using only palm oil produced in the most environmentally friendly way.
Last-minute talks facilitated by a government-run arbitrator failed to resolve the pay dispute with the bank, the union said after it agreed to delay start of strike action “in a gesture of goodwill”.