UK unemployment rises as wage growth slows, affecting interest rate cut prospects

The data reveals a mixed outlook for the labour market, dampening expectations for another interest rate cut next month by the Bank of England.

Bank of England Chief Economist Huw Pill noted wage growth remains 'sticky' at elevated levels, complicating efforts to achieve the Bank's 2% inflation target.

Analysts at Nomura argue that wage figures may be 'rogue' and part of a declining trend, indicating potential for resumed rate cuts in the future.

Despite weaker economic indicators, the pound fell 0.39% against the dollar, while the yield on 10-year government bonds rose amid inflation concerns.

Read at Business Matters