- 2 months 3 weeks ago 04:00 am
- 3 months 2 weeks ago 03:00 am
- 4 months 3 weeks ago 06:00 am
- 5 months 1 week ago 06:00 am
- 10 months 1 week ago 06:00 am
Commenting on the market reaction to the UK economy surpassing its pre-pandemic size, Jesús Cabra Guisasola, Senior Associate at Validus Risk Management, said: “The UK economy continues its recovery and surpassed its pre-pandemic size with a growth of 0.9% during November 2021.
“This increase is higher compared to the growth during October 2021 (0.2%), mainly driven by the construction and manufacturing sectors. Nevertheless, we could expect GDP to slow down in December and January when the Omicron variant impacted the economy harder.
“GBP has been performing well during the last few weeks, testing 1.20 and 1.38 levels against the EUR and USD. However, there could be some downside risks for sterling if Andrew Bailey does not meet market’s expectations and the BoE does not deliver the hikes that most economists are pricing in for 2022.”
Get FinTech news headlines, videos, stories and product reviews on your mobile device. Download Financial IT App for Free