BoE's Broadbent sees 'very gentle signs' UK productivity improving: BBC

From reuters.com

There are "very gentle" signs that very weak productivity growth in Britain's economy is improving, which should lead to levels of real pay increasing gradually, Bank of England Deputy Governor Ben Broadbent said on Thursday. "There have been signs, very gentle signs, that productivity in the economy is doing a little bit better, and that ultimately is the driver of real pay over time," Broadbent told BBC radio. Broadbent repeated the Bank's guidance that interest rises will be more gentle than in the past and to a lower level than before the financial crisis. He added that the precise timing and profile of rate ... (full story)