UK economy shrank<\/a> -0.2% QoQ in Q3, after rising 0.2% in Q2. This was ahead of forecasts of -0.5%. The UK economy is expected to tip into recession in Q1 2023, marking two straight quarters of contraction.<\/p>\nThe euro is rising after German inflation hit a record high 11.6% YoY in October. Pressure piles on the ECB to hike rates by 75 basis points in December.<\/p>\n
The EC forecasts that the eurozone will contract in Q4 2022 and Q1 2023 before growing again in Q2 2023.<\/p>\n","protected":false},"excerpt":{"rendered":"
The pound euro (GBP\/EUR) exchange rate is falling on Friday back towards \u20ac1.14 after rising to a high of \u20ac1.1560 yesterday. The pound is falling after data showed that the UK economy shrank -0.2% QoQ in Q3, after rising 0.2% in Q2. This was ahead of forecasts of -0.5%. The UK economy is expected to […]<\/p>\n","protected":false},"author":163946598,"featured_media":5236,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[1395,1394,2410],"class_list":["post-113406","post","type-post","status-publish","format-standard","has-post-thumbnail","category-eur","category-gbp","tag-eur","tag-gbp","tag-gbp-eur"],"acf":[],"yoast_head":"\n
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