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2025-09-16 15:31:49
[UK Unemployment Rate Stable, Bank of England May Hold Interest Rates] 1. The UK unemployment rate remains stable, and wage growth has slowed slightly, which may prompt the Bank of England to maintain its key interest rate unchanged at this month's meeting. 2. The UK unemployment rate was 4.7% in the three months ending July, unchanged from the previous two months. The UK Office for National Statistics announced on Tuesday that the key wage indicator, excluding bonuses, rose by 4.8% year-on-year during the same period, down slightly from 5.0% in the previous period. The job market showed signs of cooling, with employment falling by 8,000 from July to August, following a drop of 6,000 in the previous month, and the unemployment rate rising from 4.1% in the same period last year. 3. Investors expect the Bank of England to maintain its key interest rate at 4% at its upcoming meeting on Thursday. Since August of last year, the Bank has adopted a "cautious and gradual" interest rate cut strategy, with a 0.25 percentage point cut last month. Bank of England Governor Andrew Bailey stated that the timing and pace of future rate cuts remain uncertain. 4. Despite the slowdown in wage growth, inflationary pressures remain, with inflation expected to reach 4% in September, far exceeding the 2% target, primarily due to policies such as rising water prices and employer payroll taxes. Suren Thiru, head of economics at the Institute of Chartered Accountants, noted that the degree of labor market slack is insufficient to trigger a new round of easing policies, and the likelihood of an interest rate cut is low.
