Europe: UK – will reality bite?

Report Date:  31/10/17

Borrowing more and drawing down on savings can only smooth the decline in the UK’s living standards triggered by Brexit. At some point, households will have to retrench. That day looks to be moving closer as inflation starts to really bite. And there are further risks on the horizon as the housing market loses steam while rate hikes are pending. A bad reaction to either could be enough to sink the economy next year.

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