Interest Rates: Bank considerably more optimistic about economy - Analysis

The Bank of England has released documents revealing a slight increase in UK's GDP in the second quarter of 2023, contrary to its earlier predictions of a technical recession.

This is due to the decrease in wholesale energy costs, which could reduce projected utility expenses.

However, the Bank is facing a dilemma in fulfilling its duty to control inflation while maintaining financial stability, given that bank failures have been caused by interest rates.

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Read more here: https://news.sky.com/story/bank-shift-suggests-economy-is-slowly-showing-signs-of-recovery-ed-conway-12840563

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