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Fitch Sees UK Slipping Into Deep Recession On Sharp Rate Hikes

Por: RTTNews Business October 10, 2022

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Fitch Ratings said the UK is set to enter deep recession as rapid interest rate hikes compound the impact of the energy crisis and the contraction in the eurozone.Following extreme volatility in UK financial and the prospect of sharply higher interest rates, the rating agency downgraded its GDP forecast for next year to -1.0 percent from -0.2 percent projected in September. The economy is expected to recover next year to 1.8 percent.The policy... + full article



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