Published by Jamie JemmesonCorporate foreign exchange may be impacted by comments suggesting that the likelihood of the UK experiencing a double-dip recession has increased.They came from chief economic advisor for the Confederation of British Industry (CBI) Ian McCaffferty, who stated that it can still be avoided providing the government takes the right steps to protect the welfare of the nation."The recent turbulence in the eurozone has seriously dented business confidence, which has led to a reappraisal of investment and export prospects. Survey evidence points to economic growth having stalled in coming months, resulting in a significantly weaker outlook for the year ahead," he said.Mr McCafferty's comments follow the CBI's release of figures predicting that gross domestic product (GDP) growth will be 1.2 per cent in 2012 and 0.9 per cent this year, a more negative outlook that its previous expectation for expansion of 2.2 per cent and 1.3 per cent respectively.The business group has urged the government to continue with its plans to lower debt and formulate a strategy that enables the country to grow.Director general of the CBI John Cridland suggested taking such steps "could make a real difference to the economy, creating jobs and boosting growth in the years ahead".This may prove particularly important as the body anticipates that by the final quarter of next year unemployment will hit 2.75 million, while quarter-on-quarter GDP is expected to hold steady in quarter four of 2011.The report suggested that interest rates are likely to remain unchanged until at least 2013 and also stated that this year a 0.6 per cent rise in business investment is likely, down from the anticipated 3.7 per cent.Yesterday (November 8th), sterling was at $1.6073 in foreign exchange trading versus the greenback, a 0.15 per cent improvement on the previous day, Reuters reported.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site