Both headline and core inflation are around 2%, and domestic price pressures have been picking up notably. In particular, the labour market is tight. Growth in wages and unit wage costs have strengthened considerably as slack has been absorbed, with both now running at their highest rates in over a decade. The strength of the labour market is supporting consumer spending, which is rising broadly in line with real incomes.
The Securities and Exchange Commission (SEC), has announced that considerable progress has been made in the implementation of its consolidation of multiple shareholder accounts and electronic Dividend Mandate Management System (e-DMMS) as so far about 3.4bn shares have been consolidated.