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UK stocks edge higher as weak survey signals BoE rate pause

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Sept 8 - London stocks edged higher on Friday after a survey signalled slower hiring activity last month, raising the probability that the Bank of England will press the pause button in its efforts to rein in inflation.

Employers concerned about the economic outlook reduced hiring via recruitment agencies last month at the fastest pace in more than three years, an industry survey showed. Investors also took comfort from a BoE survey on Thursday showing businesses were planning for their lowest price rises since February 2022, offering some reassurance to policymakers that inflation is on course to return to target.

The yield on two-year British government bonds briefly fell to a two-week low, as investors scaled back bets of further rate hikes.Further aiding the UK equities on Friday were lower oil prices and U.S. bond yields.

 

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