Unemployment in Britain has hit a 42-year low, intensifying the dilemma facing the Bank of England at its meeting today, where it must weigh whether to raise interest rates despite stagnant wages and Brexit uncertainty.
In the three months to July, the unemployment rate fell to 4.3%, two-tenths of a percentage point below the central bank
Combined with inflation climbing to 2.9% in August, the data would suggest the need for higher interest rates to cool the economy and halt inflation’s rise.
