Preparing for a decline in cable

- By FX Markets Staff
- @FXMarkets_
- 26 Mar 2007

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BACKGROUND

The UK economy started 2007 on a strong footing, supported by buoyant levels of activity in the manufacturing and services industries. While we agree that UK Consumer Price Index (CPI) inflation may slow to 2.0% and meet the Bank of England target this summer, we believe above-trend GDP growth favours further tightening to keep inflation on target in two years' time. This supports our forecast for a 25 basis point rate hike to 5.50% in the second quarter.

The steady outlook for US GDP

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