Investec has lifted its UK economy growth forecast.

Global banking firm Investec has lifted its growth projections for the UK economy with another interest rate cut pencilled in for 2025.

The financial services company expects the UK economy to grow 1.5 per cent this year and 1.6 per cent in 2026. This trumps the Office for Budget Responsibility ( OBR ) forecast, which expects the economy to grow one per cent this year.

It comes after “slightly firmer” GDP data, which has provided the government a modest boost.

Data from the Office for National Statistics (ONS) showed the UK economy grew 0.4 per cen t in June – an unexpected turnaround after tariff and tax uncertainty clouded the period.

A Bloomberg poll of economists had predicted a 0.1 per cent rise prior to the release.

As a

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