UK economic growth figures to ignite interest rate debate

GDP estimate from the ONS is expected to show the economy expanded by 0.7% in the second quarter of this year

The latest snapshot of economic growth this week will heat up the debate about when the Bank of England will raise UK interest rates for the first time since the depths of financial crisis.

Economists predict official figures on Tuesday will show GDP growth bounced back in the second quarter after a new-year slowdown. Alongside fading worries about the Greek debt crisis and signs of rising living standards, any such recovery in headline growth could fan expectations that the Bank's policymakers are readying to raise interest rates, perhaps even before the end of the year.