U.K. Jobs Market Not Weak Enough For Back-to-Back BOE Rate Cuts -- Market Talk
Dow Jones
4 hours ago
1616 GMT - The latest U.K. jobs data came in weaker than expected, but it wasn't weak enough for the Bank of England to cut interest rates in quick succession in March and April, Bank of America economists say in a note. The U.K. unemployment rate climbed to 5.2%, higher than the 5.1% consensus forecast by economists in a WSJ survey. Average wage growth, excluding bonuses, slowed to 4.2% in October to December, from 4.4% in September to November. "The [jobs] report isn't weak enough to significantly increase risks of a back- to- back cut in March and April, but keeps us comfortable with our base case of cuts in March and June," the economists say. (miriam.mukuru@wsj.com)
(END) Dow Jones Newswires
February 17, 2026 11:16 ET (16:16 GMT)
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