Chances of Recession in Britain for the next two years have increased, says JPMChances of Britain heading into a recession over the next year or two have increased amid soaring inflation due to the country’s vulnerability to external shocks, J.P.Morgan economists said on Friday, a day after the Bank of England raised borrowing costs. “If the (U.S. Federal Reserve) engineers a sharp growth slowdown or recession, this would spill over to the UK and, combined with a tightening in domestic financial conditions, likely produce a UK recession,” JPM said. “… given the nature of the UK economy, we see the high vulnerability to external shocks beyond the near term and see increasing chances of a recession over the next one to two years,” JPM added. It said the recession would be more likely if British rates topped its long-term forecast of 3%. He was responding to the warning from the central government to civil servants to stay off politics…Battle For New Alaafin Begins As Ruling Houses Insist On Producing Next ObaChances of Recession in Britain for the next two years have increased, says JPM

Source: Nigerian Tribune June 17, 2022 16:43 UTC