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2025-09-16 14:17:53
[Unemployment rate remains stable, Bank of England may keep interest rates unchanged] Data released by the UK National Statistics Office on Tuesday showed that the UK's ILO unemployment rate was 4.7% in the three months to July, the same as the three months to May and June. Over the same period, the annual growth rate of wages excluding bonuses slowed to 4.8% from 5.0% in the year to June. This result is not expected to change the position of Bank of England policymakers at their meeting on Thursday - investors expect them to keep the base rate unchanged at 4%. Since August last year, the Bank of England has maintained what policymakers call a "cautious and gradual" pace of quarterly interest rate cuts, and cut interest rates by 25 basis points last month. But there are still signs that the central bank needs to deal with a gradually cooling labor market. Preliminary estimates show that the number of employees in employment fell by 8,000 from July to August, after a decrease of 6,000 in the previous month.
