Reuters Survey: Economic growth is moderate, the Central Bank of England is expected to continue cutting interest rates.

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.