0801 GMT - Strong U.K. growth numbers for the first quarter are unlikely to change the picture for the Bank of England, James Smith at ING says in a note. "We expect a one-and-done rate hike in June," he says. Since 2022, growth has come in stronger at the start of the year, suggesting that the country will likely be set for weaker quarters ahead, he says. On the bright side, retail spending looks solid, while strong contributions from IT may point to AI tailwinds. Growth is likely to come in around 0.2%-0.3% in the second quarter, but will likely turn negative in the third quarter as real incomes fall and inflation jumps, Smith says. (don.forbes@wsj.com)
(END) Dow Jones Newswires
May 14, 2026 04:01 ET (08:01 GMT)
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