Stock markets jittery but investors bet against US rate hike this week – as it happened

Latest: Markets rally as US housing data suggests the Fed will hold interest rates at near-record lows until December

Michael Saunders, the newest member of the Bank of England’s monetary policy committee, voted to keep interest rates on hold last week. But in an interview with the Financial Times he said he was ready to call for a cut if unemployment picked up. He said:At the moment I think the economy still has some slack left in the labour market, you can see that in the subdued pace of pay growth. If the jobless rate were to rise, increasing labour market slack further, then that would be an argument in ...