Weak jobs data 'surprise' supports Bank of England keeping rates unchanged on Thursday.
Zhito Finance APP has learned that UK employers are cutting jobs at the fastest pace in nine months, highlighting the weak state of the UK labor market, while the Bank of England will announce its latest interest rate decision on Thursday. Most economists expect the Bank of England to keep interest rates unchanged at 3.75% this Thursday. Data released by the UK Office for National Statistics on Tuesday showed that the number of company employees fell by 26,000 in August, after the previous month's figure was revised downward to a decrease of 19,000. This decline was larger than economists' forecast of a 5,000 decrease, although preliminary estimates are often revised.
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