UK growth hits six-month low as Brexit looms - business live

The Guardian - Jan 11, 12:54 GMT

The UK economy grew by 0

The UK economy grew by 0.3% in the three months to November, the weakest rate in six months, dragged lower by a fall in car production

Professor Costas Milas of the University of Liverpool says today’s GDP data won’t deter the Bank of England from raising interest rates this year:

Although today’s economic data confirms that our economy is slowing down, the slump is fully in line with Bank of England’s most recent predictions.

With this in mind, we are still on target for the Bank of England policy rate rate to rise to 1% by the end of 2019 [from 0.75% now]. Unless, of course, Mrs May’s Brexit deal is rejected during next week’s Parliamentary vote which risks opening Pandora’s (economic) box and bring into the picture interest rate cuts instead.

Having briefly flirted above 7,000, the FTSE 100 is now back in the red as the earlier merriment appears to have evaporated.

The FTSE is down 19 points or 0.3% at 6,923.91.

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