Deputy governor also says company must rein in profits as there is ‘some way to go’ to meet 2% inflation target

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Speaking at an event for the UK Women in Economics Network, Breeden said that indicators of annual pay growth remained in the 6-7% range, significantly higher than recorded in recent years.

“[This is] still elevated and, given the current weakness in productivity growth, several percentage points higher than what is consistent with the inflation target, were they to persist,” she said.

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