UK Interest Rate Cut Likely as Job Market Slows

New economic data from the UK suggests an imminent interest rate cut by the Bank of England, as wage growth slows, employment falls, and jobless claims rise. The job markets strength has waned, with unemployment at a four-year high. The Bank of England had previously noted a weakening job market as crucial for inflation control, and analysts expect a quarter-point cut to 3.75% in December. The pound weakened, but UK stocks and bonds rallied on the prospect of easier money.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.