Inflation: Economic woes as interest rates rise again

Interest rates will stay higher for longer the Bank of England has warned, with fears that the economy could stagnate into 2024.

There is some hope on the horizon as inflation is predicted to fall over the coming months and should fall to 4.9% by the end of this year.

But while 2023's outlook is slightly improved with projected growth of 0.8%, it is feared that the economy will stagnate again.

#economy #inflation #bankofengland

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