LONDON Nov 13 Britons should not expect their
wages to rise in real terms until the middle of next year
despite a strengthening economy, Bank of England Governor Mark
Carney said on Wednesday.
Speaking to Channel 4 News after releasing the central
bank's quarterly inflation report, Carney admitted that "not
everybody across the country" was benefiting from the recent
upturn in growth.
Wages in Britain are rising at less than half the rate of
inflation, making the cost of living a key electoral
"Real wages are not picking up, they haven't been for a
number of years," Carney said.
"Middle of 2014 through to the end of 2016 ... is (when)
you start to see real wage gains," he added.
Asked if he would be prepared to raise interest rates before
Britain's election, due in May 2015, Carney said: "Well,
absolutely ... you have to do the right thing with an eye on the
medium term. That's the horizon for central bank policy."