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Wednesday, February 19, 2014

U.K. unemployment rate unexpectedly edges up.

U.K. unemployment for the three months to December rose to 7.2% from 7.1% previously and topped estimates that were 7.1% also. However, the number of those out of work dropped by 125,000 to 2.34M. Meanwhile, the Bank of England's Monetary Policy Committee voted unanimously - as expected - to keep interest rates at 0.5% and against more quantitative easing at a meeting earlier this month. The pound slid after the release of the data and BOE minutes, and was -0.1% at $1.6671 at the time of writing.

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