Business & Investment

The pound rises as the latest UK employment data seals the Bank of England rate hike case

Economists said the December rate hike from the Bank of England was virtually guaranteed after data indicating the end of layoffs did not lead to a deterioration in the job market.

The National Bureau of Statistics reported that salary employees increased by 160,000 in October after the layoff program ended in September. According to the Statistics Bureau, another business study suggests that the lack of redundancy is not just the function of the company that is in the process of layoffs. “Our business survey responses suggest that redundant numbers are likely to be a small share of the number still laid off at the end of September 2021.” Said.

The market was already priced at the December rate hike, but to be fair, it was priced at the November price hike. And before the next Bank of England meeting, there is still another work report.

“Slight increases in unemployment are possible as a result of layoffs, but strong employment increases, sustained wage pressures, and further increases in vacancies are the case of an immediate 15bps increase in bank rates. It’s likely to support. ” Kallum Pickering, Senior Economist at Berenberg.

Yield on 2-year bond
TMBMKGB-02Y,
0.572%

It increased from 0.56% to 0.57%.lb
GBPUSD,
+ 0.37%

It is well below the level before the last Bank of England meeting, but has risen from $ 1.3415 to $ 1.3466.

FTSE 100
UKX,
-0.10%

It was as stable as any other European market
SXXP,
+ 0.16%

Edge up to record a record high.U.S. stock futures
ES00,
-0.13%

It was a little lower than the retail sales data.

Vodafone Group
VOD,
+ 5.24%

VOD,
-0.58%

4% recovery as a mobile operator Increased guidance on adjusted earnings and cash flows for the fiscal year.

Imperial Brands
IMB,
-1.19%

Added 2% as tobacco companies exceeded historical earnings forecasts Said it was suitable for managing inflation..

The pound rises as the latest UK employment data seals the Bank of England rate hike case

http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-7773-5837E48FC591%7D&siteid=rss&rss=1 The pound rises as the latest UK employment data seals the Bank of England rate hike case

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