A rate increase by the Bank of England in August remains "very much" on the table, says Cathal Kennedy, European economist at RBC Capital Markets. The U.K. economy looks to be on course to expand by 0.3%-0.4% in the second quarter, with two months' data available, Mr. Kennedy says. The outlook for June looks positive on the back of improved PMI data and the 'feel good factor' from good weather and England's World Cup run. Mr. Kennedy's comments come after the statistics office published new monthly gross domestic product data for the first time. The data show the U.K. economy expanding by 0.3% month-on-month in May, accelerating from 0.2% month-on-month in April - via WSJ.