Market strategist at Tickmill for CNBC Arabia: Expected inflation data in Britain is terrifying for the UK economy | latest news

Tickmill market strategist Joseph Dahriye told CNBC Arabia that the expected inflation data from the Bank of England is terrifying for the country’s economy.

Daheriya stressed the necessity of the forthcoming new prime minister carrying out reforms to curb the repercussions of inflation, especially with the consumer price index reaching its highest level in four decades.

Regarding the Bank of England’s warnings last week that the local economy is heading to enter the fourth quarter in its longest period of recession since the global financial crisis, Dahiriya stressed that these expectations are dangerous for the economy, and if the central bank is unable to take the appropriate measures, which is to raise interest rates at a pace close to the heights of the Federal Reserve in America, it will not The bank succeeds in lowering prices in the country.