The loss of economic momentum in the second half of the year isn't just due to the Budget but may also be due to the drag from high interest rates lasting longer and a growing restraint from weak overseas activity. While there is now a real risk of a recession, a fading of the drag from high interest rates should mean GDP growth in 2025 is faster than in 2024.
We’ll be discussing the outlook for Bank of England, ECB and Fed policy in a 20-minute online briefing at 3pm GMT on Thursday 19th December. (Register here.)
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