The Bank of England today delivered a dire warning that inflation will top 10 per cent and the economy is set to go into reverse - as it hiked interest rates again.
Governor Andrew Bailey laid out a darkening picture for the UK with CPI inflation now expected to peak at 10 per cent in the last quarter of this year - the highest since 1982.
In a brutal hit on families, GDP is projected to fall at the same time - and will be in the red through 2023 as a whole, declining by 0.25 per cent. The unemployment rate is set to reach 5.5 per cent by 2025.
Read Full Story ....
dailymail.co.uk >>>
:
Disclaimer: Opinions expressed here are those of the writers and do not reflect those of Peacefmonline.com. Peacefmonline.com accepts no responsibility legal or otherwise for their accuracy of content. Please report any inappropriate content to us, and we will evaluate it as a matter of priority. |
Comments