With inflation reaching 10.1%, growth predicted to be at 0% in 2023 and the cost of living continuing to rise, it is clear that the UK’s economy is struggling to stay afloat amid a global economic downturn.
Consequently, the Bank of England's Monetary Policy Committee voted recently to increase the base interest level from 1.25% to 1.75% in the most significant percentage point increase for 27 years. Despite central bank action, it looks as if the UK's economy is set to enter into a 15-month-long recession, with the decline of GDP set to supersede 2% later this year, according to recent revisions to economic forecasts. As such, many investors will be reconsidering their investment strategies and attempting to shed as much risk as possible. What actions are they taking? To start with, i...
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