UK Growth Resilient as BoE Stays on Hold, Standard Chartered Says

Standard Chartered’s Christopher Graham said UK growth held up in the second quarter, with GDP increasing 0.4% quarter-on-quarter. The expansion was driven by private consumption and business investment, while government spending acted as a drag.

Graham expects momentum to soften in the second half. He sees quarterly growth easing to 0.2–0.3% in the third quarter, with the Bank of England keeping its policy stance unchanged for now.

The comments frame a resilient but slowing UK economy as the BoE stays on hold.