BOE report: UK economic activity remained broadly stable

Haresh Menghani FXStreet

Here are some of the key results from the Bank of England (BOE) agents' summary of business conditions for Q4 2017.

• Manufacturing supported by past fall in GBP
• Surveys point to modest investment growth in the near-term
• Investment intentions had remained consistent with modest growth
• Pay growth edged up, expected to be higher in 2018
• Brexit was expected to reduce sales in 2020, but was considered unlikely to influence wage growth

The headlines provided a minor boost to the British Pound, with the GBP/USD pair holding near the 1.3400 handle ahead of the BOE Governor Carney’s testimony on the Financial Stability Report before the Treasury Select Committee.

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

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