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Press Conference Begins

BOE
  • The impact of restrictions on economic activity appear to have been smaller than expected
  • Demand growth is boosted by fall in health risks, uncertainty and fiscal/monetary stimulus
  • MPC assumptions are conditioned on the assumption that restrictions are eased as per the government's timetable
  • Demand over the next three years will be supported by households running down the 10% savings accumulated during the pandemic
  • Overall GDP is higher than in the February projection over the forecast period
  • The uncertainty around the GDP projection is thought be lower than in the previous projection, but still elevated

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