BoE's Bailey Confused Why UK Pay Still Growing Despite Rate Hikes Slowing Jobs and Housing
- BoE's Bailey puzzled by stubborn UK pay growth despite rate hikes
- Rate rises slowing UK jobs and housing market but not yet hitting pay
- Pay growth unusually resilient given BoE's 14 back-to-back rate hikes
- Bailey says "usual transmission mechanism" from rates to pay not yet seen
- Remarks made at IMF panel event organised by Group of 30 consultative body