UK Morning Brief: BoE Faces Rate Reckoning as Jobs Data Deteriorates and Defence Bank Talks Advance

The Bank of England is under intense pressure to raise interest rates Thursday as global bonds sell off aggressively and gilt yields spike. New labour market data shows 200,000 jobs lost since Labour took office, with unemployment stuck at 4.9%. Meanwhile, Chancellor John Healey is in talks with Canada about joining a new global defence bank, reversing a previous Treasury rejection.

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Bank of England Under Pressure to Hike Rates

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