1614 GMT - The Bank of England could cut interest rates in April in response to weakness in the U.K. labor market, ING's James Smith says in a note. The latest U.K. jobs data showed the unemployment rate increased to 5.2% in October to December 2025, the highest level in nearly five years. The weak jobs market will "limit the impact on wage growth and services inflation," Smith says. A BOE rate cut in March is possible, although less likely, he says. Money markets now only price a 4% chance of the BOE cutting interest rates in March, down from 83% priced in last week, LSEG data show. (miriam.mukuru@wsj.com)

(END) Dow Jones Newswires

March 04, 2026 11:14 ET (16:14 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.