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Podcast: Beyond Currency
Episode: 5 June 2023 - Property market back in turmoil
Description: The UK economy as expected avoided a contraction in the first quarter despite an unexpectedly large fall in growth in March. The economy shrunk by 0.3% in March which highlighted its fragility.
With the Bank of England under pressure to continue to hike short-term interest rates, it has little “wiggle room” to play with which could see monetary policy take the economy into a recession.
Although there was a collective “sigh of relief” from the market, the Government, and the Central Bank when the IMF concluded that the country is unlikely to suffer a recession this year, there is a growing concern...