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Podcast: Beyond Currency
Episode: 13 September 2022 - GDP expansion on a knife edge but BoE will still hike
Description: The economy grew in July according to figures released yesterday but is still seen as contracting overall in the third quarter.
The period of mourning, whether official or unofficial, will almost certainly mean that there will be contraction this month and there is nothing to suggest that August was anything other than average.
The Bank of England believes the economy will fall into a technical recession, where there are two consecutive quarters of contraction, or negative growth as economists prefer to call it. This will be followed by an ever-increasing slowdown that will last for the whole of next year.
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