STERLING remained firm on the currency markets yesterday after British unemployment fell to a six year low of 1.88 million in December and the jobless rate dipped to 6.7 per cent. The pound eased slightly to 98.2p sterling and remained at DM2.61 76. The larger than expected seasonally adjusted fall of 45,100 in the British jobless register reflected robust economic activity, but steady growth in November average earnings showed this is still not being reflected in rising wage costs.

There was thus little expectation in the City that the meeting yesterday between Bank of England governor, Mr Eddie George, and the Chancellor, Mr Kenneth Clarke, would lead to an increase in interest rates.

The seasonally adjusted unemployment total for Northern Ireland last month was 74,300, representing 9.6 per cent of the workforce and a drop of 1,700 on the previous month.