TradeSignalosUK young people hit by 'low-gear economy', Bank of England deputy warns
A deputy governor of the Bank of England, Clare Lombardelli, has said young people in Britain are bearing the heaviest impact of a 'low-gear economy'. Employers are holding back from hiring amid the fallout from the war in the Middle East. Lombardelli, the Bank's deputy governor for monetary policy, said the conflict has triggered a surge in energy prices and clouded the economic outlook. She added that this is contributing to a rise in youth unemployment.
📊 What it means for markets
Energy-driven inflation and weaker hiring can shift expectations for interest rates, which may affect the pound (GBP), UK gilts and UK equities. Rising energy prices often lift oil and gas prices as well.
Source: The Guardian
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