Indicators suggest that growth has increased from 0.2% q/q in Q1 to perhaps 0.4% q/q or 0.5% q/q in Q2. The labour market continues to post solid jobs gains, suggesting firms are confident about the economic outlook. Further, positive real wage growth is supporting household spending. Given the improving economic outlook we expect the MPC to raise Bank Rate at its August meeting.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.