empty
05.08.2022 11:54 AM
UK inflation is likely to hit 13% by the end of the year

This image is no longer relevant

The Bank of England decided to raise interest rates by 50 basis points to 1.75%.

This image is no longer relevant

As a result, GBP/USD fell by 1,400 pips, and currently has good potential for a further decline.

This image is no longer relevant

because companies are having trouble hiring the people they need, as well as feel the need to raise prices.

He stressed that the central bank must act to prevent a further growth in inflation, which is rising at its fastest pace in four decades. So far, it is projected to top 13% by the end of this year.

The outlook pushed the FTSE index to close yesterday in negative territory, with significant downside potential.

This image is no longer relevant

Bailey said the risk is that high inflation may extend, not going down as what was expected. He added that there is a decrease in the workforce as businesses had trouble hiring people, as well as had to raise prices.

Andrey Shevchenko,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Market pins blame on former president

In April, the US stock market took investors on its wildest roller coaster ride since the pandemic. The White House's "American Liberation Day" tariffs seemed to undermine the S&P 500's

Marek Petkovich 12:01 2025-05-01 UTC+2

Why Gold Is Falling for the Third Consecutive Day

Gold is declining for the third straight day amid signs of potential progress in trade negotiations between the U.S. and several other countries, which is dampening demand for safe-haven assets—even

Jakub Novak 11:40 2025-05-01 UTC+2

The Japanese Yen Has Declined Sharply — Here's Why

The yen fell sharply against the dollar and bond yields declined after the Bank of Japan (BoJ) left interest rates unchanged and pushed back the expected timeline for hitting

Jakub Novak 11:31 2025-05-01 UTC+2

The Eurozone Continues to Deliver Unexpected Results

According to the latest data, the eurozone economy grew more than expected at the beginning of the year, although it has yet to fully feel the impact of the U.S

Jakub Novak 09:13 2025-05-01 UTC+2

Why Did the Dollar Rise on Weak U.S. GDP Data?

The U.S. dollar completely ignored the sharp GDP contraction in the first quarter of this year, indicating that traders and investors are already prepared for a worse scenario than just

Jakub Novak 09:06 2025-05-01 UTC+2

What to Watch on May 1? A Breakdown of Fundamental Events for Beginners

There are relatively few macroeconomic events scheduled for Thursday, but that no longer matters much. Yesterday, there were plenty of important publications from the Eurozone, Germany, and the U.S. Even

Paolo Greco 06:50 2025-05-01 UTC+2

GBP/USD Overview on May 1, 2025

The GBP/USD currency pair continued its slight decline on Wednesday. The U.S. currency lost nearly 150 points on Monday without any visible reason. Therefore, the 80-point rise over Tuesday

Paolo Greco 06:34 2025-05-01 UTC+2

EUR/USD Overview on May 1, 2025

The EUR/USD currency pair continued trading within the same sideways channel of 1.1321–1.1426 on Wednesday, clearly visible on the hourly time frame. Despite a massive amount of macroeconomic data from

Paolo Greco 06:30 2025-05-01 UTC+2

100 Days of Trump's Presidency

While the dollar prepares for key economic data that could determine the Federal Reserve's next course of action, Donald Trump reflected on his first 100 days as President

Jakub Novak 13:31 2025-04-30 UTC+2

USD/CAD: The Pair Consolidates Under Pressure

USD/CAD is showing sideways movement, with spot prices currently trading around the 1.3840 level. The decline in crude oil prices to a three-week low, amid concerns that a full-scale trade

Irina Yanina 13:26 2025-04-30 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.