The Confederation of British Industry (CBI) released its economic growth forecasts for the U.K. The CBI expects Britain's economy to expand 2.6% this year, up from the previous estimate of 2.4%, and 2.8% in 2016, up from the previous estimate of 2.5%.

The upgrade was driven by higher increase in in productivity and household spending.

"Strong domestic demand and upbeat official data since our last forecast has boosted our outlook for 2015. We expect this strength to continue into next year," the CBI's director of economics, Rain Newton-Smith, said.