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Topic Summary

Posted by: NadiaWits
« on: June 19, 2023, 12:01:30 AM »

Pound hits one-year high as more interest rate hikes loom; UK grows in April; WE Soda cancels London float – as it happened

Experts fear rising interest rates will cause UK recession, as two UK mobile networks are to mergeUK economy returns to growth as spending in pubs lifts outputUK borrowing costs soar above levels of Liz Truss premiershipApril’s 0.2% growth means the UK economy made a positive start to the second quarter of 2023, having grown by just 0.1% in the first quarter (and shrinking in March).Jeremy Batstone-Carr, European strategist at Raymond James Investment Services, fears that “a Herculean effort” will still be needed to avoid a recession.“Today’s GDP growth of 0.2% proves that the UK economy opened the latest quarter more strongly than the previous quarter, boosting the possibility that economic activity will be resilient enough to help the UK sidestep a recession.However, it is far too soon to call the ‘all clear’, particularly with the Bank of England poised to remain on its rate-hiking mission to suppress inflation that remains too high for comfort.” Continue reading...

Source: Pound hits one-year high as more interest rate hikes loom; UK grows in April; WE Soda cancels London float – as it happened

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