Deutsche Bank forecasts Bank of England’s 2% target reachable in 2024
The aggressive move comes even as the Bank of England predicted a two-year economic contraction
With rampant inflation, public borrowing rose to 98% of economic output in September
Inflation in the U.K. is expected to surge to 13% in the fourth quarter
The move follows a December hike and concern about rising consumer prices
In contrast, the ECB doesn't plan to raise rates until 2023 despite record inflation
The bank's net profit fell 53% in 2019
The deal will create Britain’s largest asset manager and the merged firm expects to cut costs by about 200 million pounds