Oliver Mangan: The British economy is down, but not out

The shifts in the Bank of England’s macro forecasts have been quite dramatic over the past six months

Inflation is projected to fall to 2.3% by the end of 2024. It is now not seen falling below its 2% target until 2025, compared to mid-2024 previously.

The Bank of England’s (BoE) latest set of detailed economic forecasts shows it is no longer expecting a recession in the UK. 

The shifts in the BoE’s macro forecasts have been quite dramatic over the past six months, moving from expecting a two-year-long recession to modest economic growth.