Arun Singh is the Global Chief Economist at Dun & Bradstreet: “In hiking interest rates by 50pbs, the Bank of England is likely to have been influenced by the fact that in May core inflation has reached its highest level for over 30 years and is now highest in the G7. As the cost-ofliving crisis rumbles on, the outlook for businesses is uncertain and the pattern towards capturing demand is bumpy. Businesses are already concerned by weakening consumer demand, and a rise in interest rates could heighten these concerns further, making it tricky for them to drop their prices. Yet, businesses will be keen to do all they can to remain productive and competitive in the current climate by finding new and innovative ways to serve customers. To establish these key drivers of competitiveness and resilience in a highly digitised global economy requires high-quality, data-driven insights, which firms are increasingly using to stay ahead of the curve in the current challenging circumstances.” Here’s FM’s round-up of what the experts are saying. Businesses are already concerned by weakening consumer demand, and a rise in interest rates could heighten these concerns further Finance Monthly. Business & Economy 35
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