The Bank of England's interest rates are set to stay at their historic lows until next year, after the central bank signalled that it does not expect to see strong growth in earnings.
As data released showed that average earnings have fallen for the first time in five years, the bank has made large downward revisions to its forecasts.
Its forecast for annual earnings growth in the last quarter of this year has been halved from from 2.5 to 1.25 percent.
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