The Bank of England has released its report concerning business conditions in July. According to the regional agents, uncertainty has markedly risen. However, consumers are still A-OK.
Most firms do not expect an impact on investment nor on hiring, at least not in the near term.
Worries come from a third of contacts. They said that there would be a negative impact in the next 12 months. Nevertheless, the general picture is no sharp slowdown in the economy.
This is some calming news and lowers the chances of big action from the Bank on August 4th. In that event, the team led by Mark Carney will also publish its Quarterly Inflation Report.
More data is coming tomorrow. See how to trade the UK retail sales report with GBP/USD.
Pound/dollar is on the move, enjoying this news as well as the positive yet stale jobs report. Cable has reached a high of 1.3180, up more than 100 pips from the lows.
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