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Evening Standard
Evening Standard
Business
Jonathan Prynn

Interest rates to plunge in 2024 after GDP falls, City markets suggest

GDP City Interest Rates Bank of England Economy

City markets today priced in a full percentage point cut in interest rates by the end of next year after storms and strikes laid waste to economic growth in October.

GDP fell 0.3% in the month, according to latest figures from the Office for National Statistics (ONS), compared with a City consensus forecast of flat output in the month.

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