Saturday, 25 November, 2017

United Kingdom growth edges higher in the third quarter

Canary Wharf Ice Rink Source Getty
Jeannie Matthews | 27 October, 2017, 00:41

Ben Brettell, senior economist at Hargreaves Lansdown, said the growth in the third quarter seems to have increased the likelihood of an interest rate rise next week, with sterling gaining nearly half a cent versus the dollar.

Analysts suggest that BoE is likely to return rates to 0.50 per cent from 0.25 per cent after its next meeting, due to concerns that the economy can not grow as fast as it used to without generating excess inflation.

Higher than expected third-quarter growth is a boost for Chancellor Philip Hammond as he gears up to deliver his Budget next month.

The ONS credited coding's growth to "its high weight within GDP". The dominant services sector grew 0.4%, matching its Q2 performance, while manufacturing returned to growth after a weak second quarter, expanding 1.0%.

Following the higher-than-anticipated results, the pound gained nearly 0.8 of a cent against the dollar to $1.32 at the time of writing, indicating that City traders are betting on a rate hike next week.

Japan, US agree to seek diplomatic solution to Korean Peninsula tensions
The statement comes on the heels of heightened rhetoric between North Korea and the United States over the past several months. Mr Kim warned that tensions on the peninsula have "reached the touch-and-go point and a nuclear war may break out any moment".

The U.K.'s economy grew unexpectedly in 2017's third quarter, according to data revealed on Wednesday by the country's Office for National Statistics (ONS).

The expectation of a rate rise has pushed up swap rates - one of the factors that will determine how lenders price their fixed rates.

Ben Brettell, senior economist at Hargreaves Lansdown said the latest GDP numbers meant a rise in the benchmark rate to 0.5 per cent was a "near-certainty". The real question will be how rapidly rates rise through next year going back above the level they were cut to in March 2009 following the financial crisis. "I expect the Bank to proceed with caution from here".

For those seeking a personal loan, the average interest rate on borrowing £5,000 has dropped from 9.3 per cent at the time of the European Union referendum to 8 per cent.

"If the MPC doesn't raise interest rates on 2 November following this preliminary GDP estimate, Mark Carney will be branded as the central banker who cried wolf once too often". The MPC at that point voted by seven to two members against changing rates in a bid to support economic growth.

Recommended

Bloodhound supersonic vehicle on display during test Bloodhound supersonic vehicle  on display during test For the initial record attempt, the Bloodhound will use a single monopropellant rocket which can produce around 40kN of thrust. Green has to throttle back the jet, which will have enough fuel in the system to keep Bloodhound going up to 200mph.

GameCube controller support added to the Nintendo Switch thanks to update 4.0 GameCube controller support added to the Nintendo Switch thanks to update 4.0 To this day, the GameCube controller is often cited by most Smash players as being the best way to play a game within the series. You are now able to plug in your GameCube adapter into the Nintendo switch and play basically any game with the controller .

What is the Dragon Ball FighterZ release date in the West? What is the Dragon Ball FighterZ release date in the West? These strategical choices will have an overall impact over the fighting abilities for future fights, so choose wisely. The FighterZ edition includes the base game plus the eight post-launch characters as released.

BJP vs Mersal: Rajinikanth appreciates Vijay film for addressing important topic BJP vs Mersal: Rajinikanth appreciates Vijay film for addressing important topic When these scenes are played in the theatre, there is a lot of claps as people appreciated and supported them. Veteran Actor Kamal Hassan responded over this issue and said.

Texas refuses aid to American supporters of BDS Texas refuses aid to American supporters of BDS OUTRAGEOUS - a condition of hurricane relief in Dickinson, TX requires that you agree not to Boycott Israel. The teacher, Esther Koontz, did not sign the contract due to her religious beliefs, and was denied funding.

Trump Signals He will Allow Release of JFK Documents Trump Signals He will Allow Release of JFK Documents John Connally, and that Jack Ruby also acted alone when he killed Oswald a few days later. Johnson - but much about the trip remains unknown.

Spanish Catalonia move likened to Franco Spanish Catalonia move likened to Franco European Union leaders have backed the Madrid government in its handling of the crisis, which Rajoy insists is an internal matter. Rajoy said new elections should be called for Catalonia within six months but that he wanted it to happen as soon as possible.

Stranger Things Star Finn Wolfhard Leaves Agency Following Sexual Assault Scandal Stranger Things Star Finn Wolfhard Leaves Agency Following Sexual Assault Scandal He said he was a big-time agent in L.A. and he worked at APA , ' Lindsey said. adding that Grasham promised to make him a star. Lucas Ozarowski also used Facebook to share his story about Grasham . "I didn't know who he was".

Status yellow warning for Cavan as Brian approaches Status yellow warning for Cavan as Brian approaches A Met Office weather warning said: "A spell of strong southwesterly winds is expected. Batten down the hatches, Storm Brian is on the way.

Nintendo quietly added wireless USB headphone support in the last Switch update Nintendo quietly added wireless USB headphone support in the last Switch update Just attach your Joy-Cons to the Switch unit and head over to the Controller section of the System Settings menu. This feature supports the games "Legend of Zelda: Breath of the Wild", " Arms " and " Splatoon 2 ".

IPhone 8 and iPhone X production issues - AAPL stock dropped by 1.5% IPhone 8 and iPhone X production issues - AAPL stock dropped by 1.5% The iPhone X, with its edge-to-edge screen and new form factor, is the new flagship phone from the company. Shares of Apple on Nasdaq were trading down 2.45 percent to $155.77 as of 3pm BST Thursday afternoon.

In Virginia governor's race, Northam leads Gillespie in cash In Virginia governor's race, Northam leads Gillespie in cash Almost 3 out of 4 Independents (71%) say Trump is not a factor in their choice. Last month, Northam had a 49 percent to 44 percent edge over Gillespie.

Risk premium returns to oil over Iraq fighting, rising US-Iran tensions Risk premium returns to oil over Iraq fighting, rising US-Iran tensions The group is managing the global glut of crude oil after noticing the prices halve and revenues dip sharply in the recent times. Oil prices rose after Iraqi forces entered Kirkuk, briefly cutting some crude output from OPEC's second-biggest producer.

Sri Lanka eases ban on all-rounder Gunathilaka Pakistan defeated Sri Lanka in the second ODI by 32 runs of the five-match series in Abu Dhabi. SLC president Thilanga Sumathipala will also come with his players.

Liverpool boss Klopp confirms Karius to start Maribor clash I can not now mention it if I need it and then when I don't need it then I say it's not important", continued the boss. It is the last place I would do things like this.