manager says failure of mpc to raise rates in past may lead to future problems
The next movement in interest rates will be down not up as previously expected, according to Patrick Evershed. The Bank of England (BOE) added further fuel to the speculation earlier this month with its dovish August Inflation Report, in which it downgraded its forecast for economic growth in coming quarters. The BOE now expects annual GDP growth to pick to around 2.75% over the next 12 months, down from predictions for 3% or above in its May report, and notes that further downside risks remain. Importantly, inflation is also expected to remain around the bank's 2.5% target rate, gi...
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