Pre-election UK interest rate cut unlikely despite cooling jobs market and rising mortgage arrears; Moody’s warns France over snap election – as it happened

Latest UK labour market report shows signs of cooling, as jobless rate hits highest since 2021 Time for a recap: Hopes that UK interest rates could be cut before July’s election are fading, after UK real wages grew at their fastest pace since 2021. The money markets indicate there’s only a 10% chance that the Bank of England lowers borrowing costs next week. Rate cuts are unlikely after the latest labour market data showed a pick-up in real wages, while …