The UK economy grew 0.6% month-on-month in the first quarter to escape the technical recession

On the evening of the 17th, Beijing time, data released by the British government on Friday showed that the British economy rebounded strongly in the first three months of this year, ending what economists call a “technical recession.” The UK Office for National Statistics said that the economy grew 0.6% in the first quarter compared to the previous three months, particularly driven by strong growth in the critical service sector. The UK's GDP growth in the first quarter was higher than economists' forecast of 0.4%, the strongest increase since the economy contracted sharply during the novel coronavirus pandemic in the fourth quarter of 2021. In the third and fourth quarters of last year, the UK experienced two consecutive quarters of moderation

環球市場播報May 17 12:02 ET

Sterling Seen Rising If BOE Delays Rate Cuts to August -- Market Talk

Sterling is likely to strengthen against the euro to post-brexit highs if the Bank of England waits until August to start cutting interest-rates, Monex Europe forex analyst Nick Rees says in a note.

WSJMay 17 08:08 ET

Pound Sterling Holds Strength Near 1.2700 Although US Dollar Stabilizes

The Pound Sterling (GBP) turns sideways in Friday’s London session after posting a fresh monthly high at 1.2700 on Thursday. The GBP/USD pair struggles to extend upside as investors shift focus to the United Kingdom Consumer Price Index (CPI) data for April, which will be published on Wednesday.

FXStreetMay 17 04:09 ET

U.K. Inflation to Settle Below 2% Target, CE Says -- Market Talk

Inflation in the U.K. could soon be "too low", beneath Bank of England forecasts that expect it to rebound after a fall in April, Capital Economics' chief U.K. economist Paul Dales says.

WSJMay 16 11:21 ET

UBS Says Australia's Budget Doesn't Change Its View on Central Bank Action

Australian Federal Treasurer Jim Chalmers delivered his third budget and second consecutive surplus of A$9.3 billion, noted UBS.

MT NewswiresMay 16 10:09 ET

BOE's Greene Warns Labor Hoarding Could Delay Interest-Rate Cuts

Bank of England policymaker Megan Greene warned that interest-rate cuts may be delayed if British firms excessively hold onto workers after facing post-pandemic staff shortages.

BNN BloombergMay 16 09:31 ET