Record-breaking wage growth outside of pandemic times is placing significant pressure on the Bank of England, compelling it to continue increasing interest rates to circumvent an inflationary vortex.
The pound has experienced a surge in value and is now considered the top performing currency this year
With the Bank of England predicted to continue increasing interest rates, the pound has surged and is now recognized as the best-performing currency among developed economies this year.
The UK economy’s rebound into growth territory has caused the Pound Sterling to surge against the Euro and Dollar.
The UK economy has rebounded into growth territory, according to the latest S&P Global PMI survey findings, which suggests that the country will easily avoid a recession.