In an effort to challenge the government on its home ground before the general election, Rachel Reeves is scheduled to deliver a speech in the City of London that is sure to incite the Conservatives.
Additionally, Ms. Reeves will be trying to outsmart the government’s message by calling Prime Minister Rishi Sunak and Chancellor Jeremy Hunt’s claims that the economy is improving “deluded” in light of a plethora of economic data that is expected to be released this week.
It is anticipated that the Bank of England will maintain borrowing prices at 5.25% when it makes its most recent decision on interest rates on Thursday.
Although the Bank determines the base rate on its own, the government wishes to see this rate decrease.
This week, the Office for National Statistics (ONS) will release quarterly GDP statistics that is expected to demonstrate the UK’s exit from the ongoing technical recession.
