England’s qualification for the women’s world cup final which will take place in Sydney on Sunday is expected to provide a £185 million boost to the economy. At the current time when the economy is teetering between positive and negative GDP results, such an event could further disguise the underlying weakness in the economy.

To see significant growth in the coming months, the government and Bank of England will need to come together to provide the stimulus to see GDP return to trend.

There are two actions which may trigger this. The first would be when Andrew Bailey announces when the MPC considers it to be time to stop the cycle of interest rate hikes. Given this week’s inflation data that may come sooner than had been expected, but there is still a hawkish undercurrent to the committee’s thinking which may see rate hikes continue until the end of the year.

After the meeting which will take place on September 21st, there will be only two further meetings this year.

The other action may come in the Chancellor’s autumn statement which will take place in November. Despite having constantly said that it is too soon for a reduction of taxes in the UK, it is becoming more and more likely that Jeremy Hunt will decide to use the “nuclear option” since his Party is trailing so far behind in the opinion polls that if they don’t take drastic action they will be sent into opposition sometime in the second half of next year for the first time in fourteen years.

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