Article preview: The Bank of England expects the UK economy to recover strongly this year, helped by the vaccination programme roll-out. While the UK economy is forecast to contract by 4.2% in the first quarter of 2021, due to tighter national lockdown restrictions, consumer confidence is expected to return helping to drive economic growth. The Bank’s Monetary Policy Committee voted to keep interest rates on hold at 0.1% and to maintain its asset purchase programme of quantitative easing, at their January meeting.
Forecast for strong UK economic recovery
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This 431-word blog post looks at the latest forecasts from the Bank of England’s Monetary Policy Committee. Written on 5th February 2021.
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