FTSE 100 Live: ‘Little doubt interest rates rise again’ after record pay growth, unemployment up to 4.2%

The UK unemployment rate rose to 4.2% in June, it was revealed today, despite expectations that it would remain at 4%. The Bank of England has already said that salaries are rising too quickly to keep inflation under control even when they were rising at much lower rates. Midway though the day’s trading session in London, the FTSE is down 1.4%.