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Podcast: Beyond Currency
Episode: SME output has fallen by 20%
Description: There are growing signs that the country is heading for a recession. Insolvencies are growing at a rate not seen since 2009, while output in the SME sector has fallen by 20%.
SME businesses are disproportionately affected by the fuel crisis, so this may be a temporary issue since forecourt petrol prices are beginning to fall.
There are the major supermarket chains driving a price war, and this should see headline inflation moderate. This will add another layer to the Bank of England’s interest rate decision, which will be announced at lunchtime tomorrow.
Andrew Bailey and his colleagues are split about wh...