0831 GMT - Yields on U.K. government bonds, or gilts, fall following U.K. labor market data and ahead of a Bank of England decision at 1200 GMT where interest rates are expected to remain on hold at 4.5%. U.K. average wage growth excluding bonuses in the three months to January was steady at 5.9% and the unemployment rate remained unchanged at 4.4% in the same period. Despite resilient wage growth data, however, "there are now some cracks appearing," Pantheon Macroeconomics' Elliott Jordan-Doak says in a note. He cites in particular the rise in jobless claims from 22,000 to 44,200,The 10-year gilt yield falls 3 basis points to 4.601%, Tradeweb data show. (miriam.mukuru@wsj.com)
(END) Dow Jones Newswires
March 20, 2025 04:31 ET (08:31 GMT)
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