Jin10 data July 24 news, according to the latest survey of economists by Reuters, the UK economy is expected to maintain a slow and stable pace of rise this year and next, with the Bank of England possibly cutting interest rates again in August and November. The median forecast from a survey of 67 economists conducted from July 17 to 24 indicates that the UK’s economic growth rate for this year and 2024 is both 1.1%, almost consistent with the February forecast, and the growth rate is expected to slightly rise to 1.2% by 2026. Deutsche Bank’s UK Chief Economist Sanjay Raja stated: “Some clear signs indicate that the economy is stabilizing after a slight retreat in growth momentum. Business confidence has improved, and consumer confidence is also slowly but steadily improving.” Among the 75 economists surveyed, 83% (62 people) expect two more 25 basis point rate cuts this year, in August and November, and further cuts in 2026. Inflation is expected to remain above the 2% target by the end of 2026, with an average inflation rate of 3.2% in 2025 and 2.4% in 2026.
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