The Bank of England’s (BoE) governor, Andrew Bailey, spoke more optimistically about the UK’s economic outlook yesterday, at the British Chambers of Commerce Global Annual Conference, in London. Bailey mentioned that after expecting a shallow, long recession in November, the BoE is now forecasting “modest but positive growth”.
He added that the BoE is forecasting “a much smaller increase in unemployment.” It is worth noting however, that inflation has come in higher than expected so the BoE will work diligently to bring the rate back to its target.
