MaiMai News - LONDON, UK, May 02, 2008 - In the year 2007 the economy grew by 2.5 percent, and the office for national statistics revealed that in the first quarter the gross domestic product rose 0.4 percent, against the lowest since 2005.
According to Merrill Lynch & Co economist Nick Bate, "Although UK is not in recession but the economy is slow and that the threat of inflation is high." It will likely to result in further cuts in interest rates by the BoE.
Financial services in particular have suffered causing a five year low, hardest hit were Royal Bank of Scotland Group Plc and HSBC. The BoE has cut interest rates three times and has taken emergency action in order to sustain the liquidity in the UK banking system in order to ease the pressure on the mortgage market and stabilize property values.
Furthermore, the international monetary fund has predicted that the economy will expand just 1.6 percent this year through to 2009 which is the lowest since the recession of 1992.
Thus it is advised to all the investors to invest carefully and do opt for efficient investment solutions company to get good suggestion regarding investment and savings.
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