Bank of England committee member Catherine Green has expressed her continued support for maintaining interest rates at their current level, despite recent data showing a surge in the UK’s unemployment rate. The rise in unemployment to 5% in the three months leading up to September exceeded economists’ expectations and marks its highest point since early 2021. Green, who is considered one of the more hawkish members on the Monetary Policy Committee, believes the worst for the labor market has passed and cautions that businesses anticipate higher wages. Her comments come just hours after official data revealed a rise in unemployment. Despite this, traders have shifted their bets toward a rate cut by the Bank of England, with market pricing indicating an over 80% chance of such a move in December.