Aug 23 Reuters British consumer confidence held at an almost threeyear high in August, bolstered by improving sentiment around personal finances and major purchases, according to a survey on Friday that added to positive signals in the wider economy.

The GfK Consumer Confidence Index, Britain39;s longestrunning gauge of economic morale among members of the public, was steady in August at 13, matching July39;s 34month high. A Reuters poll of economists had pointed to a reading of 12.

The survey follows mostly positive data from companies since Prime Minister Keir Starmer39;s Labour Party won a landslide election victory last month. Business surveys put the economy on course for solid growth in the second half of 2024.

The survey39;s measure of enthusiasm for major purchases rose to its highest level since January 2022, while the outlook for personal finances also notched higher.

This more positive outlook may be due to a mortgagefriendly interest rate cut at the beginning of August, and hopes of more to come, said Joe Staton, client strategy director at market research company GfK.

The BoE cut borrowing costs from a 16year high of 5.25 earlier this month but Governor Andrew Bailey and other top officials have signalled they might not follow that up with rapid further reductions in rates.

Investors were assigning a less than 30 chance of a September rate cut on Thursday.

A Reuters poll of economists published on Wednesday suggested the BoE will cut interest rates…