Unemployment at 4.4% with easing earnings pressures, slow wage growth, and persistent inflation challenges may influence Bank of England's rate cut decision in August.
Market uncertainty prevails even after data, with a split vote expected at the Bank of England meeting, and a possibility of at least one more policymaker voting for a cut.
Market expectation of a 25bp cut remains at one-in-three, but uncertainty looms over the Bank of England's 'cautious' approach towards the first rate cut.
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