Bank of England faces pressure to cut rates as job vacancies and factory output decline

Neil Carberry, Chief Executive of REC, noted the broader impact on the jobs market, stating, "There is no doubt that the jobs market remains slow by comparison to previous years, with summer holidays also affecting the pace of hiring."

Despite the economic slowdown, investors currently expect the Bank of England to hold rates steady this week, reflecting uncertainty in the broader economic landscape.

The Bank of England's monetary policy committee (MPC) is set to meet this Thursday to discuss interest rates, as pressures mount for a cut after job vacancy declines.

Bank of England Governor Andrew Bailey has urged caution, warning that rates should not be cut too quickly or significantly to ensure continued progress in reducing inflation.

Read at Business Matters