Labour market holds the key to UK interest rates

Labour market holds the key to UK interest rates

Bank rate is maintained at 0.5% after vote

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Yael Selfin, Economics Director at KPMG comments on today’s Bank of England vote to maintain the Bank Rate at 0.5%.

Yael said: “Despite strong economic performance the Bank of England chose to keep interest rates unchanged today as expected. The big dilemma come Autumn will be how to reconcile conflicting signals from the labour market with strong growth and vulnerable consumers in an inflation environment that is still low.”


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About KPMG

KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with approximately 11,500 partners and staff. The UK firm recorded a turnover of £1.8 billion in the year ended September 2013. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 155,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.

This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG in the UK.

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