Economics

U.K. Economy Unexpectedly Shrinks Amid BOE Rate-Cut Debate

  • Policy makers hold next meeting at the end of January
  • Sterling has declined on expectations of more BOE easing
The data could tilt the balance toward a BOE rate cut this month, according to Bank of America’s Kamal Sharma.Source: Bloomberg
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The U.K. economy unexpectedly shrank ahead of the general election, casting doubt over whether there was any growth at all in the fourth quarter.