The OECD reduced its forecast UK growth rate for 2024 to 0.7 per cent.
"The louder the cheering on the day, the greater the disappointment by the weekend."
Consumer Prices Index inflation was 4.6 per cent in October, down from 6.7 per cent in September, according to data from the Office for National Statistics.
Plans to increase the minimum wage will be a ‘significant drag on the economy’, according to The Growth Commission.
Andrew Bailey indicated inflation will return to its recent pattern of slowdowns after the ONS reported a pause at 6.7 per cent for September.
A top German politician has indicated the EU might be open to looking again at post-Brexit relations, telling UK politicians to ‘call us’.
It came as bosses at the finance body said the global economy is ‘limping along’.
The figures have spurred hopes that there will be no further interest rate rises.
"From here there’s a strong argument for the Bank taking a prolonged pause", Nicholas Hyett said.
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