The head of the UK’s trade union movement has urged Bank of England governor Mark Carney to keep interest rates low until workers’ pay improves
The Financial Times reports Trade Union Congress general secretary Frances O’Grady made the request on rates at a private meeting with Carney.
She says: “What working people will want to hear is him committing himself to taking judgements based not just on the economic recovery but also on the recovery in people’s pockets.
“I think people would like to hear him promise that we’re not going to see a rise in interest rates that could harm or potentially choke off recovery until we are seeing a repairing of people’s household finances too.”
Carney will speak at the TUC annual conference on Tuesday.
Figures published by the Office for National statistics in May showed year-on-year wage growth of 1.7 per cent.
Wage growth has been below inflation for the majority of the period since the financial crisis.