The BOE and BEST forecasts

This presentation compares the forecasts published by the Bank of England in its Inflation Report with those put together by Fathom Consulting as part of its BEST UK forecast.

• Short-term profile for inflation revised up, apparently reflecting ‘higher petrol prices and smaller falls in domestic utility bills than previously expected’.

• But outlook still subdued -inflation is more likely to be below target in the medium term than above. Letter expected to be needed during Autumn (most likely September).

• Impact of extra £50bn offset by greater degree of spare capacity as recession worse than previously thought.

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