UK services growth strengthens expectations of a Bank of England rate rise
- UK services activity reached an eight-month high in October.
- AI-linked spending helped lift business demand and hiring.
- Higher input costs strengthened expectations of a rate rise.
UK services activity rose to an eight-month high in October, strengthening expectations that the Bank of England would raise interest rates on Thursday. The recovery was supported in part by business spending linked to artificial intelligence, as firms regained momentum lost after the Iran war began, but renewed…