by ForexNewsNow Team on December 22nd, 2010

British final GDP rises slightly less than forecast

UK flagNEW YORK (Forex News Now) – British gross domestic product rose slightly less than expected in the third quarter, data showed on Wednesday in one of the day’s major realtime forex news events.

In a report likely to have a big impact on currency market trading, National Statistics said that final GDP rose by 0.7% in the third quarter, after earlier preliminary figures had shown a rise of 0.8%.

Growth was down from the second quarter, when GDP rose by 1.2%.

At the same time, the Bank of England released minutes of its monthly Monetary Policy Committee meeting held two weeks earlier.

The minutes revealed that the committee maintained its three-way split at the last policy meeting, although a growing number of members expressed concern over rising medium-term inflation risks.

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