UK economy flatlines as higher interest rates bite

New figures reveal the UK economy failed to grow between July and September after a succession of interest rate rises. 

The performance was slightly better than expected as many analysts had expected it to shrink. 

However, forecasters suggest that the economy is set to be stagnant for several months. 

Recently the Bank of England said the UK economy was likely to see zero growth until 2025 but it is expected to avoid recession. 

Up until September, the Bank of England had raised interest rates 14 times in a row to try to tame soaring price rises.

But while raising rates can reduce inflation, it also affects economic growth.