With the inflationary situation worsening in the UK, the BoE has been carrying out rate hikes.
Pay growth in the UK has dropped below zero.
PM Boris Johnson has resigned from his position as the ruling party leader on Thursday.
FTSe 100 falling amid rising inflation.
Around 65% of businesses surveyed expect to raise prices in the next three months as rising costs continue to affect profits and margins with a sharp surge in inflation, economic slowdown and investment plans looking stagnant.
Extension of these tariffs are intended to defend the UK steel makers amid the global supply chain and energy market disruptions.
Bank of England Governor Andrew Bailey believed that if needed, the policymakers should step up acting more forcefully to reign the inflation.
Average workers in the UK are all set to lose over £470 per year by 2030, as per Resolution Foundation and LSE.
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The growing inflation in the UK has become a major cause of concern after several years. The pessimism among households as well as businesses is increasingly becoming evident especially with the fears of recession and stagflation looming over the e...