What GDP will Mervyn King Leave Behind for Mark Carney to Deal with? – Vantage FX Comments

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Jay Mawji predicts what kind of GDP to expect when UK’s figures are announced July 27th.

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The UK has flirted with recessions almost every quarter since 2008. The outlook has sweetened in the UK however, with the Bank of England recently increasing the GDP forecast.

With changes in policy-makers in the BoE, this GDP figure will be a key influence on what action the MPC might elect.

Vantage FX, Head of Market Analysis Jay Mawji commented:

“These are the signing off figure for Mervyn King. He has had his share of criticism, but has also dealt with a very difficult economic cycle. We expect GDP to be positive, particularly with sufficient figures over the protracted cold period. The figure of course is far more important for Mark Carney, who will pick up and navigate the BoE from wherever GDP docks.”

Mark Carney will also have the Bank of England Financial Stability Report to think about particularly as UK bank CDS (credit default swap) spreads have been shot up since the beginning of May which indicates some doubts as to their stability. While it will certainly be of concern to Carney, its impact on financial markets and indeed the GBP should be limited.

Vantage FX provides daily forex updates, chart analysis and educational materials to help forex traders to make wise decisions, particularly around big announcements such as this.

Visit Vantage FX’s Forex Blog to read their latest market insights and watch today’s technical analysis video.

About Vantage FX

Vantage FX is an internationally recognised Forex broker based in the City of London, providing foreign exchange trading services to clients in the UK, the EU and the rest of the world.

What sets forex brokers Vantage FX apart is their wide range of services and outstanding level of customer support. The company strives to provide an intuitive, interactive Forex experience by continually innovating and taking advantage of the leading UK trading platform MetaTrader 4 and Expert Advisors as well as offering handy tools such as a forex market calendar.

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