Headline: IMF upgrades UK growth forecast...
Reality: its been upgraded from 1.5% to.... 1.6%.
However, its based on the idea that the BoE will make four(!) interest rate cuts this year, bringing interest rates down 3.75% by the end of 2025.
Well, to be frank, as you will know I think its pretty unlikely Bailiey & his sado-monetarists will do such a thing, so I think the IMF's forecast can be treated with a pinch of salt.
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h4890
In response to this post@ChrisMayLA6 The US and the EU are lowering, I do not think it will be beneficial for the UK not to do it as well.
@h4890
We'll see, but the BoE is insular and driven by a very clear preference for the wishes of the City fo London
by Emeritus Prof Christopher May ;
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Jakob Steffen
In response to this post@ChrisMayLA6 I think you're too pessimistic there. Bailey himself said in December that markets currently underestimate the BoE's determination to lower borrowing costs, inflation permitting. With this week's data, three to four cuts this year are anything but unlikely.
@Jakob_Steffen
Ah, ye, but he's been gaslighting us... when push come to shove, he'll 'discover' inflationary pressures continuing in cortina sectors.... don't get me wrong; I'd be happy to be mistaken, but don't think I am... but we will find out by mid-year
by Emeritus Prof Christopher May ;
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John_Loader
In response to this post@ChrisMayLA6 rounding error
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