Bank of England Upgrades UK Economy Forecasts
The Bank of England upgraded its 2021 forecast last week to the highest rate seen in almost 70 years. However, this has disguised a more severe pessimistic assessment than previously of the UK’s economy. The upward revision of the annual forecast for 2021 from 5% to 7.25% was based upon a better-than-expected past performance assisted by a more resilient economy…