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Historical Year Data · 1979

UK Current Account (% GDP, WEO) in 1979

UK Current Account (% GDP, WEO) opened 1979 at -0.18% and closed at -0.18%, a +0.00% move for the year. The high of -0.18% was reached on December 31, and the low of -0.18% on December 31.

Open
-0.18%
1979-01
Close
-0.18%
1 data points
High
-0.18%
Dec 31
Low
-0.18%
Dec 31
Full Year Change
+0.00%
1978 Change
+0.00%

Monthly Breakdown

MonthOpenCloseHighLowChange
Dec-0.18%-0.18%-0.18%-0.18%+0.00%

Events During 1979

1979 Volcker Shock
Stagflation
October 1979 – August 1982

Paul Volcker's Fed raised interest rates to 20% to break entrenched inflation. The policy triggered the deepest post-war recession but ended the stagflation era and established inflation-targeting credibility.

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