UK labour market data likely to have improved further in Feb

The latest labour market figures (09.30 BST) should show that the unemployment rate has fallen and pay growth has staged a modest recovery, indicating that the risks that very low inflation becomes ingrained are still small. 

"We forecast a decline from 5.7% to 5.6% in the three months to Feb - a far cry from the 8% rate seen just two years previously. Meanwhile, the relative strength of the latest surveys has led us to pencil in a pick-up in annual growth in ex-bonus pay from 1.6% to 2.0% in Feb - its strongest rate since Aug 2012." said Capital Economics in a report on Thursday