UK Jobless Rate Paves Way for Potential BOE Rate Cut
Market Intelligence Analysis
AI-PoweredUK unemployment rate has reached its highest since the pandemic, potentially paving the way for a Bank of England interest-rate cut as the labor market weakens.
Market impact analysis based on bearish sentiment with 80% confidence.
Article Context
UK unemployment reached its highest since the pandemic and wage growth eased as the labor market continued to weaken. The jobless rate climbed to 5.2% in the final quarter of last year, the Office for National Statistics said Tuesday, paving the way for a potential interest-rate cut. Bloomberg's Sam Unsted breaks down the data and Aberdeen Investment economist Sree Kochugovindan assesses the Bank of England's next move. (Source: Bloomberg)
Analysis and insights provided by AnalystMarkets AI.