UK jobless rate rises; wage growth still moderate

London

BRITAIN'S jobless rate unexpectedly rose for the first time in almost two years and pay growth remained modest, leaving the Bank of England waiting for the stronger labour market that would justify a new interest rate hike.

British government bond prices rose and sterling briefly fell against the US dollar after Wednesday's official figures, which showed the sharpest increase in the number of people out of work in almost five years.