Categories: Economy

S&P statement on the British economy

The credit rating agency’s statement noted that economic stagnation caused by high inflation and rising interest rates in the country is also expected to have an impact next year.

The statement states that the growth forecast for the country’s economy was increased from 0 percent to 0.3 percent for this year and reduced from 0.8 percent to 0.5 percent for next year.

The statement states that general inflation in the country remains high, but it is also assessed that it is possible to reduce it to the level of the 2 percent target of the Bank of England (BoE) in the second half of next year.

INTEREST FORECAST

The statement noted that the increase in real income of employees in the country has turned positive and this is expected to contribute positively to economic growth.

The S&P statement also stated that the Bank of England could have ended its interest rate hike as early as this month. (AA)

Source: Sozcu

Andrew

Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.