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MNI POLICY: Budget To Push Up BOE Growth, Inflation Forecasts

MNI looks at the impact of the UK Budget on the BOE's economic projections.

MNI (LONDON) - The Bank of England looks set to factor in elements of the new Labour government's Oct 30 Budget into its projections out on Nov 7, with fiscal easing substantially pushing up the outlook for near-term growth and inflation.

While the tight timeframe will make it challenging for Bank staff to work the budget’s detail into its central projection in its Monetary Policy Report, the broad fiscal thrust could be incorporated more easily into an accompanying economic scenario, which is not so fleshed out. 

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MNI (LONDON) - The Bank of England looks set to factor in elements of the new Labour government's Oct 30 Budget into its projections out on Nov 7, with fiscal easing substantially pushing up the outlook for near-term growth and inflation.

While the tight timeframe will make it challenging for Bank staff to work the budget’s detail into its central projection in its Monetary Policy Report, the broad fiscal thrust could be incorporated more easily into an accompanying economic scenario, which is not so fleshed out. 

Keep reading...Show less