Economics
The Bank of England Is On Course for an August Rate Hike
- New GDP reporting means BOE won’t have second quarter estimate
- Carney said last week he’s ‘serene’ about the change
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Bank of England policy makers are adjusting to an upheaval at the statistics office at the very point when they need as much clarity as possible to help decide whether to raise interest rates next month.
The U.K. is this week shaking up the way it reports growth, publishing monthly updates and delaying its usual quarterly figures. The new process comes after most policy makers said they were waiting to see how the economy evolved before hiking rates again -- a move investors and economists now expect to come in August.