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Bank of England expected to leave interest rates on hold; UK unemployment falls – business live

The Guardian UK Thursday 18 June 2026, 06:41 UTC By Graeme Wearden 1 min read
Key Points

Rolling coverage of the latest economic and financial newsOn the face of it, the latest UK jobs report doesn’t look so bad, says ING economist James Smith:The unemployment rate ticked down to 4.9%. Payrolled employment rose after three consecutive monthly declines (it increased by a marginal 2000 workers). Average weekly earnings growth was higher than expected.

Rolling coverage of the latest economic and financial news

On the face of it, the latest UK jobs report doesn’t look so bad, says ING economist James Smith:

The unemployment rate ticked down to 4.9%. Payrolled employment rose after three consecutive monthly declines (it increased by a marginal 2000 workers). Average weekly earnings growth was higher than expected.

But the details still look dovish for the Bank of England. And the report is another reminder that the case for higher rates is far from the clear cut.

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Bank of England (ORG) UK (LOCATION) James Smith (PERSON) the Bank of England (ORG)
Originally published by The Guardian UK Read original →

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