Bank of England Governor Mark Carney speaks at the Future Forum in Birmingham Town Hall, in Britain, October 14, 2016. REUTERS/Chris Radburn/Pool
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Bank of England Governor Mark Carney expressed hope Wednesday that British households' living standards would finally start to rise following a period when price rises have outstripped wage increases.From below 1 percent, annual inflation is running at 3 percent, an increase that has already prompted the Bank of England to raise interest rates for the first time in a decade.Inflation is expected to ease over coming months after the Bank of England hiked its main rate by a quarter-point last November and as previous price rises linked to the fall in the pound drop out of the annual comparison.This month, the Bank of England surprised many in the markets by indicating that it could make another quarter point rate hike, to 0.75 percent, in May.One development that may complicate matters for rate-setters is the news that unemployment in Britain rose in the three months to December, for the first time since the aftermath of the Brexit vote, albeit by a modest 0.1 percentage point to a still historically low 4.4 percent.
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