Bank of England: Tariff Agreement Has Limited Impact on Economic Growth, Raises Economic Forecast for This Year
According to a report by Jinse Finance, the Bank of England stated that although the UK has reached a relatively favorable tariff agreement with the United States, this will have little impact on economic growth, as the service sector accounts for the majority of economic activity. The Bank of England expects that the negative impact of tariffs on global economic growth will affect the UK economy the most. However, it has raised its growth forecast for this year from 1% in May to 1.25%.
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