Do you believe in recovery of the UK economy? What other - TopicsExpress

Do you believe in recovery of the UK economy? What other recoveries do you expect? BoEs Broadbent positive about UK recovery in 2014 Bank of England Monetary Policy Committee member Ben Broadbent said in a speech at the London School of Economics on Friday that the UK economy should recover further in 2014, seeing an acceleration in business investment and an increase in consumer spending. After being hit by rising prices, tax increases and poor productivity, Britons incomes should improve this year, as “there are signs these headwinds are beginning to abate,” Broadbent stated. The BoE policymaker pointed to the drop in headline inflation to the central banks 2% target and to the recent pickup in UK growth. The unemployment rate, currently at 7.4% could fall to the 7% threshold set by the BoE quicker than expected, possibly early this year, which would trigger a revision of policy. Broadbent also commented on the strength of the pound saying that it reflects the sluggish recovery in the EU.

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