Arguments are growing louder as to the precise direction of the UK and eurozone interest rates following publication of new economic growth figures and the European Central Bank's decision to maintain a tough line on inflation.
Statistics showing UK first quarter GDP growth of just 0.5% has alarmed the City, especially since 0.4% of that growth was accounted for by trade, while consumption registered a measly 0.1% figure, reports The Guardian Similarly, burrowing through the trade figures has shown the statistical growth comes not as a result of more exports, but mainly because imports fell more sharply than exports in the first three months of the year, it adds. The British Chambers of Commerce has voiced its opinion that UK interest rates should now be set lower by the Bank of England, the paper says. T...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
