Grim — Scope | Disability forum
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woodbine Community member Posts: 11,614 Disability Gamechanger
That's bank of England boss Andrew Bailiey's outlook for the next two years as they increased interest rates from 2.25% to 3% the biggest one day rise for 33 years, and an increase of 30% in 12 months (0.1% to 3%). He also forecast that the recession will last well into late 2024 and that 800,000 people will lose their jobs.

Inflation he thinks will hit 10.9% by the end of this year but might fall quickly next year, no doubt an excuse the govt. will make for not increasing SRP and benefits by 10.1% in 2 weeks time.

The B of E isn't known for being totally accurate but if they are only half right it will be a rough ride.

If there is a shred of better news it's that savers (what is that you say?) will benefit.
2024 The year of the general election...the time for change is coming 💡


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