22  All speeches are available online at www.bankofengland.co.uk/speeches  22  Chart 10: Inflation Report forecasts of productivity growth from 2012 Four-quarter growth (per cent)  5 4 3 2 1 0 -1 -2 -3 -4 -5  2001  2003  2005  2007  2009  2011  2013  2015  2017  Latest ONS data Source: ONS, Bank of England and Bank calculations Note: Chart shows latest estimate for four-quarter output per hour growth and vintages of May Inflation Report forecasts from 2012 to 2017. Chart 11: Out-of-sample wage equation fit for the past 5 years Wage growth (per cent) 7 6 5 4 3 2 1 0 -1 -2 -3 1992  1995  1998  2001 Data  2004  2007  In-sample fit  2010  2013  2016  Out-of-sample fit  Sources: ONS, Barclays and Bank calculations. Notes: Wage equation is specification (1) in Table 1. Sample period used for estimation is 1992Q2-2013Q1. 23  All speeches are available online at www.bankofengland.co.uk/speeches  23  Chart 12: UK labour share since 1955 Share of GDP  70% 65% 60% 55% 50% 45% 40% 35% 30%  1955  1963  1971  1979  1987  1995  Labour share minus special contributions  2003  Labour share  2011 Wage share  Source: ONS and Bank calculations. Notes: Labour share is wages and salaries plus employers’ social contributions plus a fraction of mixed income as a share of GDP.
But credit cards are not common in Zambia as only a few banks issue them while most cards held by residents have been issued offshore. This initiative taken by Access Bank should directly contribute to an increase in the number of people holding such cards and taking advantage of the range of benefits that can be derived from their use. In countries where credit cards are used extensively, their benefits for users are commonly recognized and include: •  Elimination of the risk associated with carrying large amounts of cash as it may be lost or stolen. Credit card companies have over the years developed a variety of anti-theft practices which protect the cardholder in the event of theft of the card. In any case, the cardholder is protected from fraud on the card except in event of negligence on his/her part;  •  Cards make it easier to buy things as one can pay for a range of goods and services from small items to airline tickets, hotels, car-rentals etc.