A return to low inflation without recession is notoriously difficult
History suggests that this is the stage in the economic cycle when things have a habit of going wrong. Vigilance is warranted.
History suggests that this is the stage in the economic cycle when things have a habit of going wrong. Vigilance is warranted.
The big question now is whether the Bank of England will go ahead with another interest rate hike at its next meeting in September, bringing the rate to 5.5 per cent.
Monetary tightening, high inflation, supply chain issues and energy costs are all putting a dampener on growth prospects.
The National Institute of Economic and Social Research has forecast mild growth in every quarter next year, bucking the pessimistic trend.
Recession, falling house prices, and chaos in financial markets are likely to define 2023… but at least inflation is going down.
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