Market Commentary - July
06 Aug 2018
The UK economy grew 0.2% for the three month period to the end of May. Many analysts believe this shows that the slow start to the year was attributable to the poor weather rather than a deteriorating economic background. Inflation held steady in June at 2.4% in spite of rising energy costs. Against the improving economic backdrop, the Bank of England voted unanimously to raise the base rate of interest from 0.50% to 0.75%.