Blog


UK Manufacturing hits a 17 month low in April

Banks have pushed out their predictions for when the Bank of England will raise interest rates after data last week showed a sharp and unexpected slowdown in Britain’s economic growth.

Expectations the British central bank would raise borrowing costs in May had already weakened after Governor Mark Carney highlighted “mixed” economic data and noted there were also “other meetings” this year in an April 19 interview.

Economists now forecast the BoE will not act until August and may even wait until 2019. Before Friday’s GDP data most economists had expected the central bank to tighten monetary policy next month.

This morning we had the British manufacturing data released and this showed growth slid to a 17-month low in April, continuing with the current trend of poor economic data and further reducing the chances of an interest rate hike by the Bank of England next week.

Leave a Reply

Your email address will not be published. Required fields are marked *

What's Going On?

Currencies 4 You Ltd is a company registered in England and Wales (registered no. 06866898). Registered office: Regus House Victory Way Admirals Park, Crossway, Dartford, Kent, DA2 6QD. Currencies 4 You Ltd Payment and Foreign Currency Exchange Services are provided by Currency Cloud Limited and Equals Connect Limited. Currency Cloud Limited. Registered in England No. 06323311. Registered Office: Stewardship Building 1st Floor, 12 Steward Street London E1 6FQ. The Currency Cloud Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money. FCA registration number: 900199. Payment Services are provided by Equals Connect Limited, registered in England and Wales (registered no. 07131446). Registered Office: Vintners’ Place, 68 Upper Thames St, London, EC4V 3BJ. Equals Connect Limited are authorised by the Financial Conduct Authority to provide payment services (FRN: 671508). | Terms and Conditions | Privacy Statement | Careers