Scot Scoop News • October 9, 2022 • https://scotscoop.com/world-recession-headed-by-british-pound/
Cartoon: World recession headed by British pound
Emma Yin, Staff Writer
The British pound has historically been known as one of the most stable and reliable currencies in the world. Recently, it has dropped to a historical low of £1 to $1.033, recovering to $1.14 since. This drop can be attributed to new tax cuts across Parliament and Britain’s current economic recession. This recession is also linear to the trends in world currency reserves, which have declined by $1 trillion. In addition, according to the June 2022 edition of the Global Economic Prospects report, world growth is predicted to slow from 5.7% last year to 2.9% now. (Emma Yin)
