why the Bank of England is now more upbeat than the IMF
- Written by Luciano Rispoli, Senior Lecturer in Economics, University of Surrey
The Bank of England has changed its mind about the prospects for the UK economy. Having been predicting a recession in 2023 as recently as February, its latest May report is expecting a soft landing from the bout of high inflation and a year of interest rate hikes.
One reason is that global demand for goods and services is expected to be higher....