“Disappointing” data on the UK service sector appears to have cut the chances of an interest rate increase next week.

The IHS Markit/CIPS services purchasing managers’ index rose to 52.8 in April, but was not as strong as expected.

Last month, official figures showed the UK economy grew 0.1% in the first quarter – the slowest rate since 2012.

Given recent weak economic data, analysts say it is unlikely the Bank of England will raise interest rates at its policy meeting next week.