UK unemployment rise points to further ‘gradual’ Bank of England interest rate cuts

UK unemployment rose to 4.5% in March, with job vacancies continuing to ebb and wage growth slowing. But the loosening of the labour market is only gradual and so is likely to see the Bank of England continue with its "gradual and cautious" cuts to interest rates. The official ILO unemployment rate was 4.5% in the three months to March 2025, the Office for National Statistics…