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KaiTou Macro: Low interest rates boost the UK's economy rise
Ashley Webb, a macroeconomist at Capital Economics, said that lower borrowing costs have boosted the UK's economy, but only gradually. Webb said that data released on Monday showed a small rise in mortgage and consumer loans in August compared to the previous month, providing new evidence that the decline in Interest Rates is helping the economy. He wrote in a report to clients that consumer spending appears to be strengthening in the next quarter, although the central bank of the UK needs to significantly lower the benchmark Interest Rate further to accelerate credit growth.