Pound Crashes Again After Bank of England Rules Out Emergency Intervention
It turns out the recovery of the British Pound was short-lived as the currency started trending back to historic lows against the U.S. dollar once again. This came after the Bank of England (BOE) and the UK Treasury ruled out an emergency intervention to...
Citi Forecasts UK Inflation Surge in 2023
An economist at U.S. bank Citi on Monday released a forecast for the UK's inflation rate in 2023. According to Benjamin Nabarro, the UK's consumer price inflation is expected to peak at 18% near the start of the new year. This forecast was raised...
British Businesses Expect No Growth During Next Quarter, Research Finds
The Confederation of British Industry (CBI) revealed on Sunday that its members do not expect to realize any business growth over the next three months. While most members reported above-average returns for the three months ending July, the skyrocketing cost of living and subsequent...