- After a relatively strong recovery in the first half of 2024, UK growth is slowing.
- Headline inflation has fallen below the Bank of England’s 2% target and underlying price pressures are receding.
- The Bank of England started easing monetary policy, cutting rates by 25 basis points in August. Expectations are for further rate cuts this year.
- Economists expect growth over the next six months to average at the UK’s long term trend.
- Corporate optimism and risk appetite remain at above average levels, despite waning slightly after a post-election bounce.
- All eyes are on the new government's Autumn Budget, which will set out its medium-term economic agenda.
- Timing: the Autumn Budget will be announced on 30 October 2024.
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