UK Outlook 2025: A Gradual Pace, but More Cuts Than Priced

Learn more about how we cultivate and harness world-class intellectual capital and expertise to solve our clients’ most complex challenges.

What We Do

We harness every resource, insight, relationship, and competitive advantage to drive superior results for our clients.

Serving Clients

Analysis and perspectives on the global economy and markets, from across Goldman Sachs

Insights

Our award-winning podcast features Goldman Sachs leaders on the key issues shaping the global economy.

Goldman Sachs Exchanges

We aspire to be the world’s most exceptional financial institution.

Our Firm

We help entrepreneurs create jobs and economic opportunity through rigorous business education programs, access to capital, and networking.

10,000 Small Businesses

There are many chapters in a career. There is only one Goldman Sachs.

Careers

<a href="/careers/students/programs-and-internships?0=gscom%253Aprogram-type%252Finternship">Applications are now open for the Goldman Sachs 2026 Summer Internship Program.</a>

2026 Summer Internship Program

"UK Outlook 2025: A Gradual Pace, but More Cuts Than Priced"

"The recent UK macroeconomic news points to more near-term growth and inflation, according to our European economists in Goldman Sachs Research. They continue to think that the BoE will ultimately cut further than the current market pricing of 4% for the terminal rate. Overall, they expect annual GDP growth of 1.2% in 2025, three-tenths below the BoE’s latest forecasts.\r\n"

The recent UK macroeconomic news points to more near-term growth and inflation, according to our European economists in Goldman Sachs Research. They continue to think that the BoE will ultimately cut further than the current market pricing of 4% for the terminal rate. Overall, they expect annual GDP growth of 1.2% in 2025, three-tenths below the BoE’s latest forecasts.

UK Outlook 2025

Accessibility Notice:&nbsp;A&nbsp;<a href="/transcript-requests">transcript is available&nbsp;</a>for any video on this page.