The Bank of England is likely to point the way to a further interest rate cut in the coming months after leaving policy unchanged on Thursday, as it balances evidence of a weakening jobs market against firmer growth.
The BoE’s Monetary Policy Committee is widely expected to keep its key rate on hold at 3.75 per cent, but investor focus will be on the bank’s guidance on future rate moves at a time of conflicting signals about the UK economy.
Business activity has picked up after the November Budget even as hiring continues to worsen. The unemployment rate held at 5.1 per cent in November, its highest level since early 2021.
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