Business confidence falls as bank readies rate rise

Business confidence fell last month amid growing concern over the impact of rising interest rates on the outlook for Britain’s economy. Sentiment declined in the services, manufacturing and construction sectors in July, but rose among retailers. The Lloyds Bank Business Barometer fell six points to 31% overall, above the long-term average of 28% but a drop from the 13-month high of 37% scaled in June. The Bank of England is expected to raise interest rates to either 5.25% or 5.5% on Thursday. The Times (£)