BoE upgraded forecasts disguise a much more gloomy assessment for economy - the central bank revised down the growth forecast for future quarters, only increasing the assessment of the past ft.com/content/1e328f… via @financialtimes
@FinancialTimes Safe to say this was not the impression given by governor Andrew Bailey last week or the message received by him, but these are the forecast changes
They lend weight to Andy Haldane's argument that growth might well be stronger
They lend weight to Andy Haldane's argument that growth might well be stronger
@FinancialTimes Certainly, spending growth has not been slowing down because growth was better than feared in the third lockdown
Clearly, the BoE forecast can be defended. With the apst better, there is less distance to recover...
...but it was a forecasting choice, not a necessity to slow the forecast pace down. A choice that runs counter to the additional fiscal stimulus we recieved since Feb
...but it was a forecasting choice, not a necessity to slow the forecast pace down. A choice that runs counter to the additional fiscal stimulus we recieved since Feb
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