Cycle of interest rate rises look likely to continue after better than forecast economic dataUK economy shrinks by 0.1% in May after coronation festivitiesBusiness live: economy shrank after bank holidays hit activityFor mortgage payers, the latest economic growth figures are a disappointment.The 0.1% contraction in gross domestic product (GDP) between April and May tells the Bank of England that the jump in interest rates over the previous 18 months has only had a mild dampening effect on the economy. Continue reading…
Source : theguardian.com
Read more…UK GDP: mortgage payers’ worst fears are likely to come true
