Last week saw the eagerly awaited action by central banks around the Western world, with interest rates being raised once more.
There were many forecasts during the advent of the interest rate rises which largely focused on the United States Federal Reserve Bank's anticipated rate rise, however the European Central Bank and the Bank of England both conducted interest rate increases at the same time.
The United Kingdom has been reported as having the least investable pro-economy in Europe. This puts it alongside Greece.
The British Pound has fallen to its lowest point in more than a month against the US Dollar, currently trading at 1.21
This has ended the steady rise of the British Pound over the last few weeks. After many months of declining value during the summer 2022, it finally emerged from oblivion in November.
The interest rates in the United Kingdom rose to 4%. This is not far from the 5% predicted by many investment banks during the summer 2022. Analysts at these banks predicted that the UK’s interest rate would rise to approximately 5.5% by January 2023. It seemed a serious prediction…