Institution: Market expectations for a rate cut by the Bank of England are heating up
ChainCatcher news, according to Jinshi reports, data shows that the unemployment rate in the UK rose more than expected, while wage growth slowed, but was slightly below expectations. After the data was released, the pound fell from 1.2825 to a three-month low of 1.2800 against the dollar, and the euro rose from 0.8294 to 0.8303 against the pound.In the three months to September, the unemployment rate increased from 4% in the previous quarter to 4.3%. Average earnings excluding bonuses rose by 4.8% year-on-year, higher than the expected 4.7%. XTB Research Director Kathleen Brooks stated in a report: "The rise in the unemployment rate may lead the market to start pricing in a rate cut by the Bank of England next month."