U.K.'s Decline in GDP Could Put BOE Rate Hike on Back Burner -- Market Talk

Dow Jones06-12 14:49

0644 GMT - The 0.1% on-month decline in U.K. GDP in April suggests a June interest-rate rise by the Bank of England is unlikely, ICAEW's Suren Thiru says. "This decline is the first economic blow landed by the Iran conflict as falling fuel sales and slowing services output meant the U.K.'s early-year growth momentum stalled," the accountants lobby group's chief economist says. The fall in activity signals the start of a damaging descent into stagflation, with surging energy costs and supply-chain disruption set to hinder growth, despite a World Cup boost for hospitality and retailers, Thiru notes. BOE policymakers might hope that a slowing economy can limit inflation enough for them to delay tightening policy, he adds. (edward.frankl@wsj.com)

(END) Dow Jones Newswires

June 12, 2026 02:49 ET (06:49 GMT)

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The fall in activity signals the start of a damaging descent into stagflation, with surging energy costs and supply-chain disruption set to hinder growth, despite a World Cup boost for hospitality and retailers, Thiru notes. <a href=\"https://laohu8.com/S/00710\">BOE</a> policymakers might hope that a slowing economy can limit inflation enough for them to delay tightening policy, he adds. 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The fall in activity signals the start of a damaging descent into stagflation, with surging energy costs and supply-chain disruption set to hinder growth, despite a World Cup boost for hospitality and retailers, Thiru notes. BOE policymakers might hope that a slowing economy can limit inflation enough for them to delay tightening policy, he adds. 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