Bank of England raises growth estimates
Immediately after the Brexit vote the Bank of England reduced their forecast for UK growth to 0.8%, from a previous estimate of 2.3% but after confirming that base rates will remain unchanged, they have revised the rate upwards to 2%.
With inflation figures looking to maintain an upward path for the next few months at least, the next move, that was in late 2016 thought to be a ¼% cut, could well go the opposite way.
They also see unemployment figures reasonably stable at current levels, with no immediate post Brexit signs that UK employers have reigned in expansion plans for the future and the downward trend reversing.
Post Date: February 2nd, 2017