Rate rise unlikely this week

The BDO Business Trends Report says there has, as yet, been little sign of the anticipated recovery in confidence following May’s general election, with the slowdown particularly evident in the manufacturing industry. BDO Stoy Hayward says weakening global demand will mean the Chancellor will miss economic growth targets of between 3% and 3.5% and will face increasing difficulty in limiting government borrowing levels. The Bank of England is apparently concerned about domestic demand, particularly in the retail sector, while higher than expected levels of unemployment and lower aver...