In BoE’s economic projections, based on assumption of constant interest rate at 0.1%, GDP is seen as growing 5% in 2021 (revised down from November forecast of 7.25%), 7.25% in 2022 (revised up from 6.25%), and 1.25% in 2023 (revised down from 1.75%.
Unemployment rate was forecast to be at 6.5% in 2021 (revised down from 6.34%), 5% in 2022 (unchanged) and 4.50% in 2023 (revised up from 4.25%).
CPI inflation was projected to be 2 2% in 2021 (unchanged), 2.25% in 2022 (revised up from 2%), and 2% in 2023 (unchanged).
