Economic thinktank NIESR predicts boom in exports and higher wages will lead to GDP growth of nearly 2% and interest rate rise Britain’s economy will surge back to life in the next six months following its slow start this year,a main forecaster has predicted, prompting the Bank of England to raise interest rates next spring – more than a year earlier than its previous projection.
The National Institute of Economic and Social Research (NIESR) said a boom in exports after the tumble in the pound and a return to bumper wage rises next year would be enough to increase GDP growth to nearly 2% and convince the central bank to increase the cost of borrowing.
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Source: theguardian.com