Analyst: The latest employment data in the UK has kept the possibility of an interest rate cut by the Bank of England in November.

Investec Economics analyst Philip Shaw stated that the latest UK employment data has kept the possibility of a November interest rate cut by the Bank of England. The data shows that the UK unemployment rate remained unchanged at 4.7%; the three-month average wage growth as of July slowed from 5.0% in the three months to June to 4.8%. Shaw pointed out that this employment data reflects a weak trend in the UK labor market. However, he also mentioned that given concerns about UK inflation remaining above the target level, the Bank of England is likely to maintain interest rates unchanged for the rest of 2025. Currently, investors are focusing on the UK August inflation data to be released on Wednesday, followed by the Bank of England's interest rate decision meeting on Thursday - the market generally expects this meeting to keep interest rates unchanged.