00:00 The approach that the Bank of England has adopted to contain the inflation seems to have achieved a major leap towards the judge's goal of reaching 2%.
00:10 And with the investors' anticipation of reading in November, which will be issued tomorrow Wednesday,
00:16 expectations of inflationary rates will continue down the road and reach 14%,
00:24 while reading in October will be down by 16%.
00:30 Over the past 20 months, the Bank of England has promoted inflation, which reached its peak in October last year and exceeded 11%,
00:39 contributing to the repeated increases in interest rates, which have now reached 5.25% in the rate of inflation.
00:50 This is one of the commitments that the Prime Minister, Richard Sonnec, presented at the beginning of 2023.
00:56 If the British government has not fought its battle against inflation,
01:00 this means that it can move to the second part of its economic plan, which is the long-term growth of the economy.
01:08 But achieving this goal faces challenges, including external ones, such as energy prices,
01:14 and internal ones, such as maintaining high-level interest rates.
01:20 Analysts believe that the UK economy is approaching a recession due to the impact of the crisis of living costs and monetary renewal,
01:30 which is a worrying possibility for Prime Minister Richard Sonnec before the next general elections.
01:36 The UK economy has achieved a zero growth in the third quarter of this year, which increases the risk of recession,
01:44 especially after the last reading in October, which indicated a 13% decline in the overall local product.
01:53 Riyad Al Saadi, CNBC, London
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