UK economy to grow this year - before higher energy prices hit in 2027 | BBC News
By BBC News
The UK economy is forecast to grow by more than previously expected this year before higher energy prices and interest rates hit the economy in 2027, the International Monetary Fund (IMF) said. The organisation's latest report, which is closely watched by the government, said the UK economy would expand by 1.3% in…
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Interest rate
The price of borrowing money, expressed as a percentage of the amount borrowed. A central bank sets a benchmark rate that other rates follow.
It decides how much people pay on loans and mortgages and how much savers earn, and it is the main tool for fighting inflation.
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