Lates News

The UK labor market data released on Tuesday showed a slight decrease in employment numbers in July, with a reduction of 8,000 people. Analyst Bruna Skarica from Morgan Stanley stated in a report that these data are unlikely to prompt confidence in a rapid rate cut by the Bank of England. "The increasing slack in the UK labor market, while continuous, is not at a pace that will shift the Bank of England's focus away from food and overall inflation." LSEG Data indicates a 68% probability of a rate cut by the Bank of England in December according to market expectations.