Institution: Market expectations for a rate cut by the Bank of England are rising

The data showed that the UK unemployment rate rose more than expected and wage growth slowed, but was slightly lower than expected. After the data was released, the pound fell from 1.2825 to a three-month low of 1.2800 against the dollar, and the euro rose from 0.8294 to 0.8303 against the pound. The unemployment rate rose to 4.3% in the three months to September from 4% in the previous quarter. Average income excluding bonuses increased by 4.8% year-on-year, higher than the expected 4.7%. "The rise in unemployment may cause the market to start pricing in a rate cut by the Bank of England next month," said Kathleen Brooks, head of research at XTB, in a report. (Jinshi)