UK's 2023 Economic Outlook Report: Inflation Surges, Growth Adjusted Downward

The UK's economic forecast for 2023 has been revised downwards to 2.8% due to global supply chain disruptions and energy price surges. Inflation is expected to average 3.5%, surpassing the Bank of England's 2% target. The job market is expected to recover, with a 5.3% average increase in house prices. The Bank of England may raise interest rates to 1.5% due to inflation. (Read More)
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