Bank of England Monetary Policy Committee claims that nominal wage growth will return close to 4% by 2019 are "rather implausible and over-optimistic", according to two respected academics at the Centre for Economic Performance. Interviewed for the latest MNI Reality Check, Professor Stephen Machin, Director of the CEP, along with Rui Costa, a fellow researcher at the body, said that existing pressures would not alleviate enough over the near-term horizon to justify the MPC's prediction laid out in the Bank's latest Inflation Report, published earlier this month.

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