UK will dodge recession

UK will dodge recession

Great Britain will manage to avoid recession in 2018, but economic surge is supposed to lag the euro zone, as a Reuters survey demonstrated on Thursday.

UK consumers will perceive the pinch from wage hikes dipping to keep up with ascending prices.

It’s just over a year since UK citizens voted to break up with the European Union. The given decision knocked approximately 13% the UK pound’s value, driving inflation above the BoE’s 2% objective as imports turned to be more expensive.

According to the poll of 70 financial experts taken this week, inflation is going to hit 2.9% during the last quarter of 2017, but it won't make the key financial institution tighten its ultra-loose monetary policy soon.

Bank Rate was reduced to a record minimum 0.25% several months after the Brexit referendum and it won't be raised until 2019, as the poll states.

The previous year consumers played a decisive role in driving economic surge, but pay increases have been yielding up to inflation, and it’s supposed to continue.

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