Deutsche Bank Lowers UK Economic Growth Expectations for 2024 Deutsche Bank | UK | Economy
Deutsche Bank recently released a research report, reducing the UK's economic growth forecast for 2024 from the previous 0.8% to 0.4%, and pointing out that the UK still faces high inflation pressure and the risk of economic recession.
According to a research report by Deutsche Bank, inflation pressure in the UK remains high, with core inflation and food prices remaining high. Meanwhile, Deutsche Bank expects the Bank of England to continue raising interest rates.
Sanjay Raja, senior economist at Deutsche Bank, said that factors such as higher interest rates and sustained inflation may drag down the growth of the UK economy in the next two years. He pointed out that some economic models may have exaggerated the resilience of the UK economy, and the current consensus on the outlook for the UK economy may be overly optimistic. Deutsche Bank believes that the risk of economic recession in the UK remains high.