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|Bank of England inflation report and MPC interest rate decision|
|Friday, 13 May 2016|
Richard Pike, Phoebus Software sales and marketing director, says “There is one certain thing that has come out of the Bank of England’s inflation report and MPC interest rate decision; it only takes one stone in the road to upset the apple cart. On this occasion it was the Government’s announcement that the EU referendum would take place in June. Predictions up until that point were for growth to continue throughout the year and that we were working towards achieving the inflation target set by the Bank of England.
“Now the whole country, and consequently the economy, is in limbo. What is going to happen, what will be the result if we stay in the EU, or how will the UK change if we vote to leave? There are unfortunately no accurate predictions; the bank itself has cut growth forecasts leaving us believing that it too is erring on the side of caution. With just over a month to go until the vote we don’t have long to wait, but in the meantime just how deep will the uncertainty be felt economically?”
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