Taylor Swift's record-shattering Eras Tour is continuing to supercharge local economies as it enters its U.K. leg.
"Swiftflation" or"Swiftonomics" refers to an uptick in consumer spending, particularly on hotels and restaurants, around the singing sensation's tour dates. "We still anticipate a BoE cut in August, but the inflation data for that month might keep the MPC on hold in September," the bank's macro strategist Lucas Krishnan and head of global macro strategy James Rossiter wrote in a note Friday.The Bank of England is expected to soon begin lowering its Bank Rate from a 16-year high of 5.
The economic impact of Swift's sell-out tour has been well-documented, with terms such as"Swiftflation" and"Swiftonomics" emerging to refer to the spike in spending on servicesEdinburgh, Scotland, where the Grammy winner began her U.K. leg earlier this month, said that the concerts and associated spending had added up to an estimated
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Source: CNBC - 🏆 12. / 72 Read more »