The Bank of England’s policy-making failures reflect problems with the Monetary Policy Committee, not its forecasting models.
The headline number of an economic release counts less than what the market expects it to be and how it is positioned before it hits the screens.
Daily Briefing: Lurking behind the economic forecasts, as ever, are energy prices, sent into orbit following Russia’s invasion of Ukraine and now falling back substantially.
In this week’s episode, Neil and Jonathan talk to economist Sam Bowman about economic policy and Boosters vs Doomsters.
The latest ONS figures for May revealed that GDP grew by 0.5%, beating analyst forecasts of 0.1%.
The question now is about the severity and magnitude of the downturn and whether we can avoid a recession.
Ever since the global health crisis caused by the new coronavirus began to wreak havoc in the world economy, analysts have struggled to draw the right parallels.
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