Bank of England: Tariff deal has little impact on economic growth, raising economic forecast for this year
2025-08-07 11:15:46
The Bank of England said that while Britain had reached a relatively favourable tariff deal with the United States, it had little impact on economic growth because services account for the majority of economic activity. The Bank of England expects the negative impact of tariffs on global growth to hit the UK economy the most. But it raised its growth forecast for this year to 1.25 percent from 1 percent in May.
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