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The UK Consumer is Feeling the Pinch

UK retail sales experienced a sharp decline in October, falling by 2.7% year-over-year, which was more severe than the expected decrease of 1.5%. Additionally, the figure for September was revised downwards to a decline of 1.3%.


Given that inflation is subsiding globally, the question arises: How long can the Bank of England maintain such high interest rates?


If history is any indication, it may not be for much longer.


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