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New energy crisis looming for UK
The last time the UK was hit
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The last time the UK was hit by a major energy crisis — after Russia unleashed a special military operation in Ukraine — the Bank of England raised interest rates to rein in surging inflation. This time, such a manoeuvre may not work. The pound sterling is rapidly losing ground against the US dollar after the real probability of a new energy crisis and another inflation spike in the UK rose sharply. Four years ago, a sudden jump in prices struck an overheated
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Jakub Novak,
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