*(UK) Q1 FINAL GDP Q/Q: 0.6% V 0.6% PRELIM; Y/Y: % V 1.1% PRELIM

**Consensus expectations: - - Q/Q: 0.6%e v 0.6% prelim - - Y/Y: 1.1%e v 1.1% prelim - - Components: - - Private Consumption Q/Q: 0.6%e v 0.6% prelim - - Government Spending Q/Q: 0.4%e v 0.4% prelim - - Gross Fixed Capital Formation Q/Q: -0.6%e v -0.6% prelim - - Exports Q/Q: 0.1%e v 0.1% prelim - - Imports Q/Q: 0.6%e v 0.6% prelim - - Total Business Investment Q/Q: 0.7%e v 0.7% prelim; Y/Y: -1.8%e v -1.8% prelim - - also due out: - - 02:00 (UK) Q1 Current Account Balance: -£21.3Be v -£18.4B prior - - Recent comments: - - On Jun 18th Bank of England (BOE) left the Bank Rate unchanged at 3.75% (as expected) for its 4th straight pause under the current phase of its easing cycle. The vote to keep policy steady was not unanimous (7-2) as members Pill and Greene dissented for a 25bps hike). Statement reiterated stance that stood 'ready to act' on inflation. Risks to energy prices were still skewed to upside. Rate path depended on scale and duration of energy shock, and economic impact. - - On Apr 30th BOE updated its Monetary Policy Report (aka Staff Projections) cut 2026 GDP forecast from 0.8% to 0.7% (three scenario range 0.7-0.7%) and cut 2027 GDP forecast from 1.2% to 0.8% (three scenario range 0.8-0.5%) - - On Apr 14th IMF updated its World Economic Outlook (WEO) which cut UK 2026 GDP growth from 1.3% to 0.8% and cut the 2027 growth forecast from 1.5% to 1.3% - - **Insight: BOE has cut the Bank Rate six times under the current easing cycle by a total of 250bps. The last cut was in Dec 2025