UK pay growth slows but probably still too high for BoE

LONDON (Reuters) -British wage growth slowed more than expected in the three months to the end of October, official data showed, but pay is probably still increasing too quickly to persuade the Bank of England to cut interest rates any time soon. Earnings excluding bonuses were 7.3% higher than a year earlier, the figures from the Office for National Statistics (ONS) showed on Tuesday. The figure represented a slowdown in regular pay growth from an upwardly revised reading of 7.8% growth in the three months to September and from a peak of 7.9% immediately before that, the highest since the ONS began collecting the data in 2001.