At its February 2023 Monetary Policy meeting, the Bank of England signalled the peak in the Bank rate had been reached. What are the likely reasons for this? Ten interest rate hikes have taken the rate from 0.1% to 4%. The effect has been a housing market in sharp reverse, business failures beginning to rise, …
A look ahead to 2023
My first prediction is that I am confident that only some of the projections people make will fully capture what happens this year. One of the lessons of the last few years is that more disruptive events are occurring more frequently than before, causing more uncertainty. Some things will continue this year: technological change will continue …
Is the UK already in recession?
As the campaign to become the leader of the Conservative party and therefore Prime Minister of the UK is whittled down to the final two candidates, the economy continues to struggle. It has shown paltry growth since the crisis of 2007/8, mainly down to poor productivity. ‘Levelling up’, Brexit, none of these has changed that …