London (PRWEB UK) 27 June 2013
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.
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