empty
 
 
05.08.2022 11:54 AM
UK inflation is likely to hit 13% by the end of the year

This image is no longer relevant

The Bank of England decided to raise interest rates by 50 basis points to 1.75%.

This image is no longer relevant

As a result, GBP/USD fell by 1,400 pips, and currently has good potential for a further decline.

This image is no longer relevant

because companies are having trouble hiring the people they need, as well as feel the need to raise prices.

He stressed that the central bank must act to prevent a further growth in inflation, which is rising at its fastest pace in four decades. So far, it is projected to top 13% by the end of this year.

The outlook pushed the FTSE index to close yesterday in negative territory, with significant downside potential.

This image is no longer relevant

Bailey said the risk is that high inflation may extend, not going down as what was expected. He added that there is a decrease in the workforce as businesses had trouble hiring people, as well as had to raise prices.

Andrey Shevchenko,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback