BOE Likely to Remain on Hold This Year as U.K. Economy Falters -- Market Talk

Dow Jones06-12 15:03

0702 GMT - Although rate hikes in July or September can't be ruled out, the Bank of England is likely to keep interest rates on hold this year, Ruth Gregory at Capital Economics says in a note. "April's contraction in real GDP showed the strong start to the year is now faltering," she says, noting that this should limit inflationary pressures. "We expect the economy to come to a standstill this quarter and next as the hit to households' real incomes from higher energy prices intensifies." The services sector is bearing the brunt of the Iran war fallout, while industrial production is likely to weaken further from May as a temporary boost from stockpiling reverses, Gregory says. "The conditions for a long period of high inflation are not in place." (don.forbes@wsj.com)

(END) Dow Jones Newswires

June 12, 2026 03:03 ET (07:03 GMT)

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