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Bank of England Deputy Governor Broadbent emphasized the weak labor market and slowing economic growth, adding that "the wave of declining inflation is still ongoing." She stated that the Bank of England's statement on continuing interest rate cuts is "not far from market expectations." Broadbent said, "The big picture I consider in policy-making is the ongoing wave of declining inflation. I think the labor market is loosening, as we have seen a slight increase in unemployment rates and relatively weak economic growth." She added that she does not have a predetermined plan for the interest rate path. Market expectations on Friday predict that the Bank of England will cut interest rates by 25 basis points two to three times by the end of the year, while last week's poll of economists predicted two rate cuts.