Sterling has risen against its major counterparts this morning (August 6th) after a raft of industry and business data offered support to the view that the UK economy is about to turn a corner.Manufacturing output figures released yesterday intimated an end to contraction witnessed since March 2008, while house prices were also seen to rise.Meanwhile, the services sector responded growth of a degree not witnessed in 17 months.Sushil Wadwani, a former member of the Bank of England's Monetary Policy Committee, said that collectively the data add impetus for the Bank to halt its policy of quantatitive easing.There were calls earlier this week for the Bank to boost the divisive initiative by another £25 billion, in line with allocations set down in April's budget.Dr Wadwani warned that pushing on with the policy while the economy is enjoying a positive short-term outlook may cause an unnecessary currency inflation scare.