British pound hits a 37-year low as UK economy skids | CNN Business

The currency fell below $1.14, its lowest since 1985, after the Office for National Statistics said that retail sales in August dropped 1.6% month-over-month, the biggest decline since December 2021 and significantly worse than economists had expected. “I think the UK is in recession already,” said Michael Hewson, chief market analyst at CMC Markets UK.

A plan by Prime Minister Liz Truss to subsidize energy bills for households and businesses could ease the pain this winter, but may not be enough to restore growth. The Bank of England forecast a lingering recession before her plan was announced. Investors have also been unsettled by indications that the government will pay for its energy program, which could cost as much as £150 billion , by sharply increasing the UK national debt.

After all, the sun never sets on the empire.

Inquiring/questioning as to whether there is a choice for consumers around the world and/or if these are strategies/reasons by central banks, stock exchanges, GDPs, businesses etc., are the onset of predicted recession.

BrexitReality BrexitBrokeBritain

Can you buy less in Poundland now?!

so, you’re saying Biden is responsible for that too?

Still worth more than the dollar

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