BoE faces reality

#bankofengland is probably the first monetary authority to face reality. The have come up with an official #gdp growth forecast for its economy and they are foreseeing almost two years of consecutive negative growth. A long #recession. Other central banks, such as the #fed, are taking the route of abandoning forecasts or guidance, which if we look at their track record, also makes sense. We may see, however, non official forecasts from investment banks to follow the #boe and adjust expectations.

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Source: Bloomberg, BOE