Why the British economy's packing a punchNick Beecroft
Things are looking up for the British economy; Friday's GDP figures are likely to be stronger than expected, unemployment's falling back and this might force the Bank of England to raise rates earlier than previously thought. That's the opinion of Nick Beecroft, the Chairman of Saxo Capital Markets.
After the publication of its recent committee minutes, Nick senses the Bank of England is finally trying to "turn the super-tanker around" to a more optimistic view of the economy. He says the Bank's trying to lay the ground work for a change of stance and to become more bullish on the economy. He expects sterling to stay strong, notably against the US dollar and for gilts to fall back.