December Rate Cut Looms as Jobless Rate Returns to COVID 19 Level

BoE held rates at 4% as unemployment rose to 5%, nearing COVID-19 levels. (Credit: Google)

The Bank of England (BoE) held its key interest rate steady at 4% in November but is expected to reconsider its stance next month. Recent data from the Office for National Statistics (ONS) revealed that the unemployment rate increased to 5% in the three months to September 2025 — a level close to the peak during the COVID-19 pandemic.

Sticky Inflation and Rate Hikes