Bank of England governor says jobs slowdown could prompt rate cut; European markets fall after Trump tariff threat – as it happened

Rolling coverage of the latest economic and financial news, as Andrew Bailey insists: I think the path [for interest rates] is down".

A Bank of England interest rate cut next month is looking more likely, according to the latest city pricing.

The money markets are indicating there's now an 85% chance that the Bank cuts interest rates at its next meeting on 7 August, up from 76% at the end of last week.

Friday's disappointing GDP figures, combined with these weak jobs figures boost the case for the Bank of England to cut interest rates in August. The central bank's governor Andrew Bailey told The Times slack' was opening up in the labour market, and he believes the path is downward' for interest rates.

All eyes are on Wednesday's inflation report with CPI expected to remain at remain around 3.4% in June, roughly unchanged for the third consecutive month."