The Bank of England’s (BoE) latest set of detailed economic forecasts show it is no longer expecting a recession in the UK. The forecasts are contained in its quarterly Monetary Policy Report for May 2023.
The dollar was in the ascendancy from mid-2021 through to autumn 2022 as hikes in US interest rates, rising US bond yields and elevated geo-political tensions drove the currency to twenty year highs
Economic data have generally surprised to the upside year-to-date, though GDP growth was sluggish in Q1. Tighter credit and lending conditions could weigh on activity as year progresses.
