UK Jobless Claims Fell 5.9K, BOE Unanimously Voted to Maintain Monetary Policy - 15.8.2012
People Claiming Jobseeker allowance in UK unexpectedly fell in July by 5,900 to 1.59 million compared with a revised increase of 1,000 people in June according to the Office of National statistics in UK. The Unemployment Rate fell to 8.0 per cent for the last quarter, from April to June, down by 0.2 per cent from the previous quarter. Economists were expecting the Unemployment Rate to remain the same like in May at 8.1 per cent.
The Bank of England released the Minutes of the MPC meeting held on August 1st and 2nd where the committee voted unanimously to maintain Bank Rate at 0.5 per cent and continue with the 375 billion pounds asset purchase programme. The British pound climbed against the US dollar after the stronger labor data for the UK economy. The FX pair rose from 1.5661 to 1.5699, nearing weekly highs at 1.5716.