Independent Christian economist Bridget Rosewell, previously economic advisor to the Greater London Authority, said, ‘I'm expecting the economy to be in an uncomfortable place and we shouldn't lose sight of the long term, in the short term.’ The Bank of England has raised interest rates twelve times in a row and believes inflation will fall slower than predicted as food prices stay stubbornly high. Interest rates take a while to feed through into prices but more stable prices will eventually come through. People with mortgages should expect their interest payments to rise. Pray for people to not overextend themselves or take out loans if they are not sure how they will repay them. Ask God to remove envy and the love of mammon across the UK so that people do not think that they have to have everything that others have.
UK economy is in an uncomfortable place
Written by David Fletcher 19 May 2023Additional Info
- Pray: for the Bank of England to bring inflation under control and manage to avoid a recession. (Proverbs 15:22)
- More: premierchristian.news/en/news/article/the-economy-is-in-an-uncomfortable-place-christian-economist-on-higher-interest-rates
Tagged under