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UK to Hit 2% Inflation Target by Spring in Upgraded Outlook
The UK economy is set for a spring boost as inflation falls below the 2% target, the Bank of England cuts interest rates and the current period of stagnation comes to an end, according to forecasts by Bloomberg Economics. Inflation has fallen faster than expected and wholesale gas and electricity prices have continued to tumble, setting the UK up for “modest, if unspectacular, growth” in the second half of the year, UK economists Dan Hanson and Ana Andrade wrote in a report published Thursday. The improved outlook and rapidly falling inflation will give the BOE “ample space to start easing.” Hanson and ... (full story)
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