Thomas Pugh, chief economist at RSM UK, said: “With pay growth only slowing gradually, another rate cut on Thursday seems out of the question and further rate cuts this year look doubtful.”It is also expected that the figures will force the Bank of England to keep interest rates on hold again this year.Economists expect the Chancellor will have to raise taxes in her Budget on November 26 as she seeks to fill another black hole in the public finances.Average regular earnings excluding bonuses rose by 4.8pc i ...