ONS data hours before the Bank of England decision show May employment +2,000 versus economists' -23,000 forecast; April employment decline revised to -53,000 from -100,000. Three‑month unemployment to April eased to 4.9% and vacancies fell to their lowest since early 2021. Weaker‑than‑expected UK inflation yesterday and a US‑Iran ceasefire that helped push global energy prices sharply lower have together cooled market pricing for further BoE hikes. Markets largely expect the Bank Rate to be hel

ONS data hours before the Bank of England decision show May employment +2,000 versus economists' -23,000 forecast; April employment decline revised to -53,000 from -100,000. Three‑month unemployment to April eased to 4.9% and vacancies fell to their lowest since early 2021. Weaker‑than‑expected UK inflation yesterday and a US‑Iran ceasefire that helped push global energy prices sharply lower have together cooled market pricing for further BoE hikes. Markets largely expect the Bank Rate to be held at 3.75% later today.