BoE forecasts 7.25% UK growth in 2021
Bailey warns downside risks to the outlook remain
The Bank of England’s revised forecasts predict the UK economy will grow 7.25% this year, its strongest GDP growth in 80 years.
Governor Andrew Bailey warned that downside risks remained, especially from more virulent strains of Covid-19, and said the UK had lost two years of growth.
The BoE’s monetary policy committee voted unanimously to leave UK interest rates unchanged at 0.1% today (May 6). The MPC also voted 8–1 to keep its asset purchase programme at £895 billion ($1.2 billion)
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