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As experts in the field of stock market trading and financial analysis, we are here to provide you with the latest insights and updates to help you make informed investment decisions. Today, we will be discussing the upcoming Bank of England (BoE) rate decision and the potential for the UK to exit a technical recession.
BoE Rate Decision: Unlikely to Change
This week, the BoE is set to announce its rate decision on Thursday at 11:00 am GMT. While there is a divided opinion among policymakers, recent comments from BoE Governor Andrew Bailey and Deputy Governor David Ramsden suggest a dovish stance. With inflation risks remaining ‘skewed to the downside’, there is a possibility of a rate cut in the future.
Although a rate cut is not expected this week, traders will be closely watching the rate statement, economic forecasts, and the press conference for clues on the central bank’s next steps. The central bank’s outlook on inflation and its response to the Fed’s moves will also be key factors to consider.
UK Economic Growth: Exiting a Technical Recession?
On Friday, the UK growth data will be released, with expectations of another expansion in March. After experiencing a technical recession in the second half of last year, the UK economy has shown signs of recovery with positive growth in January and February.
According to Bloomberg’s estimates, a +0.1% expansion is forecasted for March, with a Q1 growth of +0.4%. This indicates a potential exit from the technical recession and a positive outlook for the UK economy.
Stay tuned to Extreme Investor Network for more updates on the stock market, trading tips, and valuable insights to help you navigate the financial markets successfully. Happy investing!
