Institution: Bank of England may cut interest rates to 3.75% by the end of the year

economists at Investec Economics said in a report that due to signs of weakness in the UK labor market, the Bank of England may cut interest rates twice by the end of 2025, bringing the bank rate down to 3.75%. The latest UK labor market data shows that the unemployment rate rose to 4.7% in the three months to May. The institution's economists said: "We still expect the bank rate to be 3.75% by the end of the year and 3.00% by the end of 2026."