Chief Economist’s Weekly Brief – Lowdown

Last week was mostly about lows. First, the IMF downgraded its forecasts for the UK economy this year. Second, the Bank of England’s inaction is adding support to a “lower for longer” expectation for UK interest rates. And third, the US economy’s retail sector growth hit its third lowest number since 2008. Leave it to China then to hit a high – largest single quarter credit boost to the economy in its history. That high may yet be followed by a low… Continue reading