BoE's Weale - market plunge was speculative, wage growth to pick up
NOTTINGHAM, England (Reuters) - Bank of England rate-setter Martin Weale said a recent recovery in oil and commodity prices confirmed his view that the sell-off in financial markets at the start of 2016, which some investors saw as a warning sign about the world economy, was speculative.
Weale, speaking after delivering a speech, also said wage growth in Britain remained disappointing but was likely to be higher this year than in 2015.
He added that a series of weak purchasing managers' indexes might not translate into weaker output.
(Reporting by William Schomberg, editing by David Milliken)