U.K. Exits Brief Recession With Stronger-than-forecast 0.6% Growth in First Quarter

By Barbara Kollmeyer The U.K. economy grew 0.6% in the first quarter of 2024, exiting a technical recession, according to an initial estimate released by the Office for National Statistics on Friday.

MarketWatch03:23 ET

UK Preliminary GDP Expands 0.6% QoQ in Q1 Vs. 0.4% expected

The UK economy expanded 0.6% QoQ in the first quarter (Q1) of 2024 from a 0.3% contraction in the previous reading, the preliminary estimate released by National Statistics (ONS) showed Friday.

FXStreet02:11 ET

The Bank of England has taken another step towards cutting interest rates, focusing on wage and employment data for next Tuesday

Only two members of the Bank of England's policymaking committee voted to cut interest rates, but this is one more member than last time, and there are signs that more people will join the “interest rate cut team” next month. The Bank of England has long said it relies on data, and next Tuesday's wage and employment data will become even more important.

FX678 Finance22:47 ET

BoE Pill: BoE to Think About Rate Cuts Over Next Few Meetings

In the absence of big disturbances to the economy, we will be thinking about cutting rates over the next few meetings.

FXStreet13:00 ET

Bank of England Governor Bailey: If the economic and inflation situation is in line with expectations, then there is a reason to cut interest rates

Bank of England Governor Andrew Bailey said that if the evolution of the economy and inflation is in line with the central bank's expectations, then there will be reasons to cut interest rates.

環球市場播報12:09 ET

Bailey: Even if the Bank of England starts cutting interest rates, quantitative austerity can continue

Bank of England Governor Andrew Bailey said the central bank can continue to shrink its balance sheet even if it starts cutting interest rates.

環球市場播報12:03 ET