January 15, 2018 / 7:38 PM / 2 years ago

Wage growth too crude a gauge for next Bank of England rate hike - Tenreyro

LONDON (Reuters) - Wage growth alone is too crude a gauge to judge when the Bank of England should next raise interest rates, and instead the central bank needs to consider productivity trends and other factors, BoE policymaker Silvana Tenreyro said on Monday.

Tenreyro, speaking after a lecture at Queen Mary University of London, also said there were “huge” problems measuring the size of Britain’s economy, as well as assessing the productivity of self-employed workers, whose numbers rose significantly after the financial crisis.

Reporting by David Milliken; Editing by Alison Williams

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