Page 48 - Banking Finance March 2023

ARTICLE

The United Kingdom (UK) has the legacy of British people is Business as usual". Do these words still
being the most stable leading economy over the prevail in the current context of the UK economy? Let's see
last 500 years. The UK is one of the leading
T financial markets. Everyone would have heard Going back to the era of World War II and the rise of the
the term LIBOR (London Interbank Offer Rate) which is the USA will be too long and complex. A lot has happened in
most used word in the debt market. This country is the the last 6 year such as Brexit, Pandemic, Ukraine-Russia
headquarters of world class bank viz. HSBC, Barclays, RBS, war, energy crisis, inflation and fiscal policies decisions.
Standard Chartered etc. There are some Internal and External factors responsible for
current status of the UK economy.
This country has the most prestigious universities like
University of Oxford, University of Cambridge, Imperial
College London, University of Edinburgh, University of
Manchester, London School of Economics and Political
Science (LSE) etc., getting admission in any of these colleges
is an accomplishment for any student across the world.
Winston Churchill (former PM) once said "the maxim of the

About the author

Niraj Kumar
Faculty
Punjab National Bank
Source: GDP data extracted from Statista

42 | 2023 | MARCH | BANKING FINANCE