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BREAKING
Local sources: Civilians, including children and women, were injured in the al-Maqous neighborhood of Sweida, in Syria, as a result of ongoing clashes
Israeli media outlet: Security incident reported in the Gaza Strip
Iranian Foreign Ministry spokesperson: No new date or venue has been set for the meeting between Araghchi and Witkoff, and no negotiations will take place until the outcome is guaranteed
Palestinian platforms: Settlers storm Al-Aqsa Mosque complex under the protection of the occupation police
Palestinian platforms: The IOF detonated a booby-trapped robot east of the al-Zaytoun neighborhood, south of Gaza City
Syrian Defense: We call on all parties in Sweida to cooperate with security forces and exercise restraint
Al Mayadeen's correspondent: The Lebanese Army is continuing its investigations and will later announce any information that does not affect the confidentiality of the investigation
Al Mayadeen's correspondent: It has not yet been determined whether the detainees belong to ISIS or another organization
Al Mayadeen's correspondent: Around 10 people of different nationalities, including Lebanese nationals, were detained
Al Mayadeen's correspondent: The Lebanese army arrested a number of people in the Matn area of Mount Lebanon with possession it has not disclosed

Bank of England: Rising Inflation Can Ignite a Global Sell-off That Would Harm the UK

  • By Al Mayadeen Net
  • Source: The Guardian
  • 10 Oct 2021 09:53
  • 2 Shares
2 Min Read

The Bank of England has warned that rising inflation might spark a sell-off in global financial markets, harming the UK economy.

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  • Bank of England (Reuters)
    The Bank of England (Reuters)

The Bank of England Street announced inflationary tensions are on the rise as the speed of economic recovery from the pandemic slows down, according to a report by The Guardian.

The Bank’s financial policy committee added in its regular financial health check that risky asset prices in several markets had grown to historically high levels. It continues that the whole situation could be primed for an acute fall amid speedy growth in inflation. 

The FPC said: “Asset valuations could correct sharply if, for example, market participants re-evaluate the prospects for growth, inflation or interest rates.” 

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Trump signals new US tariffs, warns trading partners of imminent hikes

The UK is facing the fastest growth of business costs since at least the 1990s, this is mainly caused by Brexit and COVID-19. Households are suffering from additional pressure due to soaring gas prices.

Inflation is expected to reach 4%

Until at least the summer of 2022, the bank expects the inflation rate to remain high before gradually falling from near 4% to almost 2%.

As the world economy emerges from lockdown, global financial markets have been rocked in recent months, raising the possibility that major central banks would be compelled to remove pandemic support measures before the economic recovery from the coronavirus is complete.

Concerns have also been expressed about excessive levels of corporate debt in the report, particularly about Chinese Evergrande, where the report claims that the inability to keep up with loan payments will send sent shockwaves across global markets. However, the bank claims the UK showed its resilience to such shocks. 

US economy fails to create jobs

US numbers released on Friday revealed the world's largest economy added only 194,000 jobs in September, significantly fewer than projected, indicating concern about weakening global economic growth despite rising pricing pressures.

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  • Brexit
  • inflation
  • UK

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