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In the News
09 March 1998
Incomes Data Services reports that of the pay deals it has monitored in 1998 just over half were worth 4% or more and two-thirds were worth between 3.5%-4.5%. IDS observes that settlements have been on a rising trend over the past six to nine months and that the increases so far in 1998 are substantially higher than the equivalent rises a year ago. IDS attributes the rising trend "to a combination of pressures including higher inflation, tighter labour markets and moves in anticipation of the introduction of the national minimum wage". The London International Financial Futures and Options Exchange (Liffe), Europe's largest derivatives market, announces proposals to introduce full time electronic trading towards the end of 1999. The Bank of England announces that UK gilts (government bonds) are to be traded in decimals, not in 32nds as is the current practice, from 1 November 1998. The Bank says that the changes will "align conventions across key European markets and were favoured by a large majority of respondents during market consultations last year".
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