The Paris-based international economic organization, the Organization for Economic Co-operation and Development (OECD), has announced its forecasts for this year. In it, they mention that the G20, which includes the twenty largest economies in the world
Apart from Argentina and Turkey, the United Kingdom is expected to have the highest inflation rate.
At the same time, Sky News according to the expectations he observed. One of the most effective measures against high inflation is to raise the base interest rate, but this can hinder economic growth and incomes.
British Prime Minister Rishi Sunak, who does not have much time if he wants to retain his party’s presidency in addition to his position as prime minister until after the next parliamentary elections, which will be held in January 2025 at the latest, has already started slowly and low. – Competition for the main position among potential competitors within his party. The politician earlier said he would support it if the country’s central bank, the Bank of England, decided to raise interest rates.
However, given inflation, the post-Brexit British economy has not fared well from other figures either: growth this year is expected to be just 0.3 per cent, while next year it will be just 1 per cent – both figures are the lowest among the G7, Which includes the seven largest economies in the world – while inflation will remain above the average of the Organization for Economic Co-operation and Development countries, currently expected at 6.9%.
(Cover photo: Anti-Brexit protesters on January 29, 2019. Photo: Jack Taylor/Getty Images)
