Economics
U.K. Economy to Stagnate in the Second Quarter, Survey Shows
- Economists see zero growth before a slow recovery gets started
- Bank of England will announce its next decision on Thursday
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The U.K. economy will probably flatline in the second quarter and the Bank of England won’t raise interest rates until well into next year.
A Bloomberg survey showed Tuesday that economists don’t see the British economy growing at all in the three months through June. They also pushed back expectations for an interest-rate hike to the third quarter of 2020 from the first quarter, and some even forecast a reduction as the next move.