Positive News from Sir Mervyn King…

I was very pleased to hear today that Sir Mervyn King is predicting a rise in the Bank of England’s growth forecast by 0.5% in the second quarter. This is excellent news and might well provide light at the end of the tunnel following a period of huge economic uncertainty. This projected growth was also confirmed by the Chancellor in his speech to the Confederation of British Industry last night, which despite stubbornly high inflation figure projections, makes for doubly good news. If the economy can just get kick started into forward growth, it can only be a matter of time before other economic indicators, which have shown poor performance previously, will start to pick up too. Sir Mervyn has suggested that the road to recovery might be a bumpy one with periods of economic flat lining, but it is extremely positive that after some poor economic figures, we can at least expect growth in the second quarter going forward, which will be a big boost to British business.

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