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How globalization changes capitalism, the economy and politics

BoE – growth, inflation highly uncertain

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Back in May the Bank of England published its quarterly outlook for the economy and inflation. While both are not surprisingly rather grim, the rate setters seem to expect a more or less V-shaped recovery in the economy that could lead to positive growth by the end of the year. Understandably this is the most optimistic view.

Regarding inflation the MPC judges that the forecast is ‘highly uncertain’ and ‘it is more likely than not that CPI inflation will be below the 2% inflation target in the medium term’. In the meantime the ghost of deflation perseveres.

BoE1Q09growthprojections

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Written by Alfred

12. June 2009 at 9:27 am

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