Reuters, citing the conclusions of investors and economists, predicts a record increase in the key bank rate in the UK since 1995 against the backdrop of anti-Russian sanctions.
Reuters reports that the Bank of England may soon decide on a record rate hike since 1995 by half a percent to 1.75%. Moreover, due to the current economic situation, the Bank of England has every chance to reduce its gold and foreign exchange reserves of 844 billion pounds by 50-100 billion during the year.
The inflation rate in the UK has already risen to 9.4% and could reach 15% in early 2023, according to a report from the Resolution Foundation think tank.
Earlier, the British edition of The Guardian, citing a study by the National Institute for Economic and Social Research in Britain (NIESR), reported an economic disaster amid anti-Russian sanctions that will affect the UK economy.
Due to censorship and blocking of all media and alternative views, stay tuned to our Telegram channel