Bank of England more upbeat on UK job prospects after Sunak budget

With the economy looking more resilient than expected under Covid, setting committee keeps rate at 0.1%

The Bank of England has become less gloomy about unemployment amid signs that budget measures and a more resilient than expected economy will improve the UK's jobs' outlook.

Announcing the decision of the latest meeting of its nine-strong monetary policy committee (MPC), Threadneedle Street said it was likely its next set of economic forecasts - due out in early May - would forecast a jobless peak below the 7.75% pencilled in last month.