British businesses have trimmed their expectations for wage growth over the coming year, a Bank of England survey conducted in June showed on Thursday.

Firms expected wage growth of 3.6 per cent, down 0.1 percentage points on a three-month moving-average basis, according to the survey.

It added that in June, 29 per cent of British businesses expected sales to be lower in the year ahead due to US trade policy changes, while 24 per cent of firms expected that their capital expenditures would be lower.