Ongoing weakness in the UK service sector adds to the case for policymakers to keep rates on hold for a second time at next week's central bank meeting. We’ve had various bits of UK data today, but none of it is likely to move the dial for next week’s Bank of England meeting where we – and the market – expect another pause. Both this morning’s delayed jobs numbers and the latest PMI indicate that the economy is cooling, albeit gradually, but it’s also clear that neither dataset should be taken too literally. Much like the eurozone, the latest purchasing managers' index tells us that the service sector is continuing ... (full story)