By Chris Dorrell June is looking an increasingly likely date for the Bank of England to start cutting interest rates, but one thing which could force the Bank to wait a little longer is the coming increase in the minimum wage. From April, the minimum wage will rise from £10.42 per hour to £11.40, an increase of 9.4 per cent. While this is a big increase, it follows a previous increase of 9.7 per cent in April last year. There are fears that this hike could keep wage growth at elevated levels, just as the Bank prepares to ease the cost of borrowing. Higher wage growth could in turn prompt anoth…