Uk Unemployment Rate Likely to fall Further to 7.3%

Quotes from Lloyds Bank:

-The focus for today rests primarily on domestic events in the UK, with the latest labour market release and the minutes of the January MPC meeting, taking centre-stage. Last month’s release saw the ILO unemployment rate drop from 7.6% to 7.4%, its lowest level since April 2009 and a step closer to the Bank of England ‘s 7% forward guidance threshold.

-In today’s release, we expect a further drop to 7.3%, although we acknowledge this is likely to be a close call. If realised, this would further shorten the odds of the unemployment rate hitting the 7% threshold much sooner than envisaged in the BoE’s forecasts. This conviction is likely to be strengthened by further declines in the claimant count over the coming months. We forecast another circa 40k fall in December. The material has been provided by InstaForex Company – www.instaforex.com

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