October 5th, 2017.


There's been predictions that regardless of the slow start at the beginning, the UK's economy will bounce back to life before the end of the year. This means that interest rates are likely to be increased in the next couple of months - earlier than what was initially forecast.

The current fall in the value of the country’s official currency and a simultaneous increase in wages will likely lead to a subsequent rise in exportation, causing the Gross Domestic Product (GDP) growth of Britain to expand by 2 percent. The National Institute of Economic and Social Research (NIESR) which predicted this also agreed with other previous projections that the cost of getting a loan will be increased by UK’s central bank – the Bank of England (BoE). 

According to the Director of the Institute, Jagjit Chadha, this should give the BoE more reasons to increase the interest rates by next spring. However, major banks have been doing.....


For the full story at smallbusiness.co.uk CLICK HERE.