This morning we get the latest labour market data for the UK. The unemployment rate is expected to have remained at 3.8% in November, which is the lowest level seen since 1975. Annual wage growth however is expected to have edged lower, to 3.1% from 3.2%. That’s still well above inflation, which should help to prop up consumer spending. However, it will also leave the Bank of England with an opening to cut interest rates if the Bank’s members feel sufficiently pessimistic to do so.
Over in Switzerland, US president Donald Trump is due to speak at the annual Davos gathering of business people and politicians. Others attending include European Central Bank boss Christine Lagarde, and British chancellor Sajid Javid.
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