BOE Sees Inflation Drag Fading as U.K. Wage Growth Accelerates

Bank of England officials said restraints on the economy and inflation are fading as they weighed the need to continue emergency policy settings.

In the minutes of its June meeting, the Monetary Policy Committee said factors constraining price growth were “likely to dissipate fairly shortly,” and could strengthen “notably” by year-end. Separate data published Wednesday showed pay growth accelerated to the fastest in almost four years.