British Central Bank: Economy Will Fall, Inflation Will Be in Double Digits

⁣▪ Britain's central bank has published the bleakest forecast of any major central bank and suggested Britons prepare for double-digit - 10% or more - inflation and a prolonged period of stagnation for the British economy

▪Following the U.S. Federal Reserve, the Bank of England raised its key rate to 1%, the highest in 13 years, announcing a tightening of monetary policy

▪"I recognize the difficulties this decision will bring to the people of Britain, especially those with small incomes," said Central Bank Governor Bailey. "The biggest problem is the shock of the fall in people's real incomes that comes from changing terms of trade, especially because of the surge in energy prices."


⁣https://www.australiannational....review.com/state-of-