Article 5HGQK UK set for strongest economic growth since WWII, forecasts Bank of England

UK set for strongest economic growth since WWII, forecasts Bank of England

by
Richard Partington Economics correspondent
from on (#5HGQK)

Interest rates to be kept at record low of 0.1% with GDP growth now forecast to rise at 7.25% in 2021

Britain is on track for the strongest growth since the second world war this year as it stages a faster-than-expected recovery from the Covid-19 pandemic, according to the Bank of England.

The Bank raised its estimate for UK GDP growth to 7.25% in 2021, up from a previous forecast in February for growth of 5% this year, as rapid progress with the Covid-19 vaccine and easing of restrictions paves the way for a boom in pent-up demand.

Related: Bank of England raises growth forecasts and leaves interest rates on hold - business live

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