The UK Economy: Forecast Summary

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National Institute Economic Review, 2017, vol. 242, issue 1, F2-F2

Abstract: GDP is forecast to grow by around 1½ per cent this year and in 2018. Our forecasts have been revised lower since August. Annual consumer price index inflation peaks at 3.2 per cent in the final quarter of this year before easing back to the target rate of 2 per cent in the second half of 2019. The risks to that forecast are tilted to the downside. We expect the Bank of England to raise the policy rate by 25 basis points this month and again every six months until Bank Rate reaches 2 per cent.

Date: 2017
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