Bullish Britain

Across the pond, the UK economy is really picking up. Employment is up sharply, real GDP rose 3.1% in the first quarter, the best growth since 2008, the labor force participation rate is 72.9%, the highest it has been almost a decade and hours worked are at a 25 year high. If these trends continue much longer, expect the BOE to start raising short-term interest rates well before mid-2015.

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