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U.K. Unemployment Climbs Bolstering BOE Low-Rate Case

U.K. unemployment unexpectedly rose in the fourth quarter, reinforcing the case for the Bank of England to keep its key interest rate at a record low.

The jobless rate measured by International Labour Organization methods rose to 7.2 percent from 7.1 percent in the three months through November, the Office for National Statistics said in London today. No change was forecast, based on the median of 31 estimates in a Bloomberg News survey. Minutes from the BOE’s February policy meeting showed officials were united on the need to keep interest rates unchanged, as they prepared for a new phase of forward guidance.