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Britain’s GDP Growth to Slow Down Beyond BOE’s Forecast: Deputy Gov Ramsden

According to Bank of England Deputy Governor Dave Ramsden, economic growth in the UK could have slowed down to a greater extent than what was forecast by the Monetary Policy Committee in early May.

Weak growth in productivity and weaker than forecast investment risks could hamper Britain’s GDP growth. He also remarked that a sudden no-deal Brexit without any time for transition could have significant negative effects on the economy.

He maintained the opinion of the BOE on the issue of keeping interest rates on hold, adding that weak productivity growth could push inflation higher, offsetting any possible weakness in inflation as GDP falls lower.

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Arslan Butt
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Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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