"I am determined to go further and faster to kickstart economic growth, which is the number one priority in our plan for change," Reeves said in a statement following the latest GDP data. "That means generating investment, driving reform and a relentless commitment to root out waste in public spending. "She added: "I will fight every day to deliver that growth and put more money into working people's pockets. "With inflation easing and sluggish economic growth, a 25 basis points rate cut by the Bank of England in February seems increasingly likely," noted Matt Britzman, senior equity analyst at Hargreaves Lansdown. "UK government bond yields have felt an immediate impact, pulling back yesterday from multi-decade highs, offering some relief to risk-on investors and borrowers alike.

Source: The Times January 16, 2025 13:49 UTC