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Rishi Sunak has a decent chance of delivering his promise to halve UK inflation this year, according to the Bank of England. But that is about as good as the latest central bank forecasts get for the prime minister, who was hoping to fight a 2024 general election with a much-improved economy. The Bank of England delivered the latest hike Thursday with a warning that borrowing costs, which have fueled an historic cost-of-living crunch, could stay elevated through at least next year and perhaps longer.
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EU Rebuffs U.K.’s Call to Reset Their Post-Brexit Relationship Bloomberg 2/11/2021 Ian Wishart
(Bloomberg) The European Union rebuffed the U.K.’s call to reset the two sides’ relationship, saying Britain needs to honor the promises it made on Northern Ireland as part of the Brexit deal.
In a letter to Cabinet Office Minister Michael Gove, European Commission Vice-President Maros Sefcovic gave a cool response to Britain’s request to delay the implementation of border checks on some goods entering the province, saying that measures the U.K. previously signed up to “urgently need to be fully and faithfully implemented.”
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