The UK's Office for National Statistics announced on Friday that the Real Gross Domestic Product (GDP) of the UK expanded by an annual rate of 0.4% during the second quarter, surpassing market expectations of a 0.2% growth.
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The Financial Times reported UK Prime Minister Rishi Sunak's potential move to restrict investments in the Chinese tech sector, similar to Joe Biden's action.
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The potential for further appreciation of the pound sterling (GBP) appears limited due to the Bank of England (BoE) raising interest rates.
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The potential for further appreciation of the pound sterling (GBP) appears limited due to the Bank of England (BoE) raising interest rates.
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The Bank of England's decision to increase interest rates has raised concerns about a deepening recession.
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The Bank of England has increased its key interest rate by 25 points to 5.25%, as widely anticipated.
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The Pound Sterling (GBP) is primed for intense volatility, as the Bank of England (BoE) is widely expected to raise interest rates at its fourteenth straight meeting today.
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The recent gloomy prints of the UK's inflation data have created challenges for the Bank of England (BoE) hawks in their efforts to control high inflation amidst sluggish economic activities and workforce issues.
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The US Dollar has strengthened due to prospects of tighter policies by the Federal Reserve, supported by a strong US GDP report.
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