BoE Expected to Hike Rates Four Times in Next Year After UK GDP Surprise

UK GDP grew 0.4% in July, beating expectations of stagnation, prompting City forecasts of up to four Bank of England rate hikes over the next year. The first hike is widely expected in November, though the MPC may hold rates at its next meeting. This marks a shift toward tighter monetary policy, driven by stronger-than-expected growth.