The demand for more labour and a surge in self-employment continues to drive the UK unemployment rate down. House price gains remain strong and inflation is still low. It’s been the story of the UK economy in 2014. But the missing piece of the puzzle remains wages. Until productivity improves, earnings are unlikely to budge.
Ross McEwan, RBS CEO, has answered listeners' questions during a half hour phone-in on LBC's breakfast show. Ross took calls on a range of topics and explained how RBS will focus on customers and become the UK's most trusted bank.