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Podcast: Beyond Currency
Episode: 25th January 2022 - Omicron effect to be less than 1%
Description: "Data released yesterday for economic activity in January showed that the effect on the economy from the Omicron variant will be moderate. It is predicted that the imposition of Plan B of the Government’s strategy will cost less than 1% of GDP.
The report also showed that costs continue to rise at near record levels. This reinforces the view that the Bank of England will again hike rates at its meeting next week.
One piece of good news is that pressure on supply chains appears to be past its worst. While headline inflation is expected to continue to increase in th...