Pound hits $1.28, with UK economy predicted to ‘turn corner’ in 2024 – business live

PwC predicts inflation will fall near ‘normal levels’ in 2024, but corporate insolvencies are forecast to jump

Here’s Susannah Streeter, head of money and markets at Hargreaves Lansdown, on the dip in the oil price this morning (see previous post).

A barrel of Brent crude has edged below $80 pushing down energy giants, Shell and BP in early trade.

With Maersk now scheduling tankers resuming their passages via and Suez Canal and the Red Sea, thanks to the reassurance of a US-led maritime force in the region, it’s helped dispel some immediate concerns about supply issues.