J.P.Morgan said the UK economy was expected to contract by 0.1% this year, revising it from the previously forecast 0.3% decline in the gross domestic product (GDP), buoyed by a recent drop in natural gas prices.
The UK government is likely to pull back plans to raise household energy bills to 3,000 pounds in April, which should help bring down inflation faster than expected, J.P.Morgan economists wrote in a research note on Thursday.
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