The UK economy has performed relatively well so far this year, growing at close to its long-term t...
The UK economy has performed relatively well so far this year, growing at close to its long-term trend rate. According to preliminary estimates, GDP grew by 0.6% between the second quarter and third quarter, a commendable performance considering the bleak global economic picture. With inflation firmly under control, the Bank of England has been able to cut interest rates aggressively. Even though household spending has remained robust, the backdrop of weakening external demand has been the reasoning behind the cuts. At the moment, inflation is not a barrier to further cuts as lower oi...
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