In Sir Mervyn King’s final quarterly inflation report as the governor of the Bank of England, he has predicted modest economic growth for the remainder of 2013 and also a fall in inflation.
The rise in growth for the second quarter of 2013 is likely to be 0.5%, which will add to the 0.3% growth in the first quarter. Overall growth for the year is expected to be around 1%.
This still remains the slowest economic recovery in decades and GDP is likely to remain below the levels of the financial crisis for at least another year.
What do you think of the Bank of England’s announcement? Are you unhappy with the recovery or can you finally see the light the end of the tunnel?
Leave us a comment or follow the link below to see Sir Mervyn speak at the press conference.