Reported about 6 hours ago
The Bank of England's latest economic forecasts present a sobering challenge for Chancellor Rachel Reeves, showing sharply reduced growth expectations and a significant risk of stagnation. Despite support from the bank's leadership for Reeves' growth plans, they revised the growth forecast down to just 0.75% for the year and highlighted increasing inflation pressures that could affect living standards. With higher energy prices and only modest wage growth anticipated, Reeves may need to reassess her fiscal strategies to avoid breaching her tax goals amidst a potential economic downturn.
Source: YAHOO