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A miserable state of affairs

Aug 05, 2022

As the biggest interest rate hike in 27 years by the Bank of England makes the headlines in the UK, the BoE is boosting its forecast for a peak of inflation to a stunning 13.3% in October and the UK currency is now down 10% against the US dollar this year, we take a bird’s perspective on the UK economy. Here it appears that the BoE now expects the British GDP will be a third less in 2025 than it was expected to be before the financial crisis in 2008. What a miserable state of affairs …

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