Energy Prices Trump Soft Employment Data for Interest Rate Hike

The Bank of England's Monetary Policy Committee will meet on Thursday (17 September) to set interest rates, and analysts believe that high energy prices may outweigh soft employment data in their decision.

The UK has seen a slowdown in earnings growth, which could be exacerbated by the impact of rising energy costs. Analysts are warning that this combination could lead to a rate hike, despite the recent employment data showing a softer than expected reading.