15/10/2026
15 Oct 2026
BoE's Pill is sceptical of four rate hikes in the next 12 months
After the IMF's recent optimism, the economy's fragility is becoming clear. The economy is forecast to have shrunk in August, on the back of a decline in the services sector, according to experts. The Office for National Statistics will unveil the latest monthly UK economic growth data later this morning.
Economists say the economy likely contracted in August as a “correction” after stronger-than-expected June and July figures. In June, the UK economy grew 0.3% as hospitality and leisure firms benefited from football fever and prolonged hot weather.
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