15.10.2014 - Unemployment in the UK fell again
Today in the UK was published the data on the unemployment rate in the country. Thus, the rate fell to its lowest level since October 2008. Analysts had forecasted a decline to 6.1%, against 6.2% in August. The number of unemployed fell by 18.6 thousand against the expected reduction of 34.2 thousand. It is worth noting that the average wage growth accelerated to 0.7% in August, compared to 0.6% in July. Earlier, the Bank of England said that the rise in interest rates will depend on the growth of wages in the country. Among the risks to the growth should mention weakening euro area economy. We maintain our positive medium-term outlook for the British pound in relation to expectations of tighter monetary policy.