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Economists Forecast UK Unemployment Will Hit 7 Percent Faster than BoE Estimates

U.K. unemployment will hit Mark Carney’s 7 percent threshold faster than the Bank of England forecasts, prompting policy makers to assess whether they need to raise their benchmark interest rate, economists said.
Seventeen of 25 forecasters in a Bloomberg News survey see unemployment falling to the level by mid-2016, with 13 predicting it will happen in 2015 at the latest. The BOE sees it staying above the threshold until at least the fourth quarter of 2016. Data tomorrow will show the rate stayed at 7.8 percent in the second quarter, according to a separate poll.

via Bloomberg [1]

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Alfonso Esparza

Alfonso Esparza [6]

Senior Currency Analyst at Market Pulse [7]
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza