A step in right direction for UK, BoE cautious
The text discusses the progress of the UK in cutting interest rates and the challenges involved in doing so. It mentions that wage growth is slowing, but it is uncertain if it will fall to a level consistent with 2% inflation. The unemployment rate has fallen to 3.8%, but it is no longer a reliable indicator. The Bank of England is relying on various data and surveys to make judgments about the labor market. The text also briefly mentions oil prices, gold prices, and the milestone of bitcoin breaking above ,000.