Posts Tagged ‘UK growth figure’

A consensus of almost fifty economic experts predicts that Britain will show a growth rate that exceeds the rest of the G7 nations in the coming quarters, but the Bank of England is in no rush to increase interest rates, which might slow the rate of recovery.

The poll agrees with online Forex trading positions that the Bank of England will hold interest rates until the second quarter of 2015, raising them then by 25 base points, with a further increase of the same magnitude in the third quarter.
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The Chancellor’s recent encouraging news on growth in the British economy has strengthened sterling against most other currencies. Online forex traders should be careful, however, as the effect is unlikely to be permanent.

The UK growth figure for the quarter June – September 2013 was 0.8 per cent, which was an increase on the two previous quarters, and also higher than the expectations of the International Monetary Fund, whose chief economist had described George Osborne’s fiscal policies as ‘playing with fire’. It was better also than the predictions of the Chancellor’s own fiscal watch dog, the Office for Budget Responsibility, which in March predicted an annual growth rate of 0.6 per cent.
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