Pound at eight-month low as ‘stagflation’ crisis fears take hold
- Date: 29-Sep-2021
- Source: SkyNews
- Sector:Financial Markets
- Country:Gulf
Pound at eight-month low as ‘stagflation’ crisis fears take hold
The pound has come under pressure as fears over "stagflation" stalk the economy amid a supply chain crisis and surging energy prices.
Sterling dipped below $1.35 to hit a fresh eight-month low against the US dollar on Wednesday.
"Stagflation" describes a period when an economy experiences stagnant growth and high inflation at the same time.
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