10 KEY TAKEAWAYS FROM THE ACT MIDDLE EAST TREASURY SUMMIT 2023
October 28th, 2023
UK recession expected by the end of the year
The way the data is evolving there is a 60% chance the UK will be in recession by the end of 2023, or certainly by the early stages of 2024, according to Simon Ballard, Chief Economist, First Abu Dhabi Bank. It will come down to the ability of the UK market to resist tighter financial conditions. If the Bank of England continues to sound hawkish in the face of still sticky inflation (6.7% in September), then that will again have a negative impact on consumption in the short term. If it sounds more nuanced ...
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