UK second quarter GDP growth exceeds expectations, traders lower expectations of interest rate cuts for the year.
The performance of the UK economy in the second quarter has been better than expected, bringing some relief to Chancellor Rishi Sunak, but also raising the threshold for further interest rate cuts by the Bank of England. Traders no longer believe that there will be further interest rate cuts this year and expect borrowing costs to remain stable at 3.5% next year.
Latest