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Carney Says U.K. Is Just Starting to See Pickup in Wage Growth

Bank of England Governor Mark Carney said the U.K. is just beginning to see a pickup in wages, a key metric for policy makers as they debate the timing of the first interest-rate increase since 2007.

“In the U.K. we’ve had a lot of job creation, not a lot of productivity, but a lot of job creation and relatively muted wage performance,” Carney said in Istanbul on Monday. “We’re just starting to see the turn in wages that we need for a sustainable recovery.”