Summer time and the living is easy : at least that's what the BOE and ECB hope

Growth will return in the summer for both ECB and BOE.

This is from a Bloomberg article who note that slowing growth has stopped two developments for the ECB and the BOE. The BOE hoped to hike in May, but slowing growth has prevented it. The ECB hoped to scale back asset purchases in June. Both now are highly unlikely. Slow growth has been the problem in both cases. Their takeaways are :

• U.K. economy almost stalled in 1Q, but payback to come in 2Q.
• Growth slowed in the euro-area, though should remain above trend

I keep thinking that the terrible weather we had in Q1 has hindered UK growth and a 'bounce back' has the right feel to it. I know the weather is always bad in the UK, but this was a really bad spell we had over the first quarter.