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Added on the 28/09/2022 18:44:34 - Copyright : France 24 EN
On Friday, Goldman Sachs predicted the UK's economy will grow 7% in 2021. The growth will be led by the coronavirus vaccine rollout and a Brexit trade deal. Over half of the country's population is expected to be immunized by March. Business Insider reports there will be a significant rebound in economic activity from the second quarter of next year. New trade restrictions are likely to weigh on potential growth in the coming years. Goldman said the drag will mostly be slow to materialize. UK GDP will end the year 11.7% under its pre-pandemic level, twice as much as Germany, France, and Italy.
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Everyone knows London real estate numbers are sky high, but wait until you see the numbers that have risen 70% since 2008.
Bank of England policymaker Kristin Forbes has warned that waiting too long to raise interest rates could damage Britain's economic recovery. Kirsty Basset looks at market reaction to the comments.
The Bank of England announces it will hold its key interest rate at 5.25 percent, a day after the Federal Reserve also froze borrowing costs as global inflation retreats. The BoE had already kept its rate steady at the central bank's previous monetary policy meeting in September, snapping a streak of 14 hikes in a row. But Governor Andrew Bailey says it is "much too early" to think about cutting rates. IMAGES
Ambulance workers hold banners and flags at a picket line in Crawley, West Sussex (south of England), as they go on strike for non-life threatening calls. IMAGES