UK wage hike faster than expected: BOE policymaker

London

BRITAIN'S labour market is "fizzing away nicely" and wages are growing faster than expected, Bank of England policymaker Martin Weale said in an interview with the Financial Times in its Wednesday edition, indicating that he might soon vote for a rate rise.

The FT reported that Mr Weale, a member of the BOE's Monetary Policy Committee who voted for rate rises last year, believed that the central bank should be ready to raise rates as soon as August.