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Jumana Saleheen Profile picture
Jumana Saleheen
@JumanaSaleheen
Chief Economist, Europe. Former @bankofengland. Macro and Climate. Tweets are not investment advice. All views my own. Loves blackberries. She|Her. #BLM 🇺🇦
Aug 4, 2022 • 8 tweets • 6 min read
@bankofengland raises rates by 50bps today and forecasts nflation to 🏔13.1% by end-2022.

It looks like the bank is forecasting a mild #recession with #GDP growth *falling* by 1.5% in 2023.

This is accompanied by a modest rise in the #unemployment rate to 5.75% in 2024.
A 🧵 As I read through the @bankofengland report, I will tweet my commentary here.

Taken from the report:
A #recession2022 is the Bank’s base case forecast.😣

“The United Kingdom is now projected to enter recession from the fourth quarter of this year.”

bankofengland.co.uk/monetary-polic…