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MNI BRIEF: BOE May Follow IMF's ​​​Growth Upgrade: Tenreyro

(MNI) LONDON

The Bank could well raise its growth projections in the May forecast round, following in the International Monetary Fund's footsteps, Bank of England Monetary Policy Committee member Silvana Tenreyro said Monday.

The IMF raised its UK GDP forecast to 5.3% from 4.8% its its latest forecast round, just above the BOE's 5.0% forecast in February. Tenreyro said that its forecasts "will be similar in some ways (to the IMF's), different in others but generally they have shown the same central features over the pandemic." In a presentation at a Stockholm University event Tenreyro focussed on how the trend to onshoring could increase, rather than dampen, trade volatility.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
Bank of EnglandCentral Bank NewsPolicy NewsHomepageEmailCEEMEABriefUKStoryRegion
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
Bank of EnglandCentral Bank NewsPolicy NewsHomepageEmailCEEMEABriefUKStoryRegion

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