52: Bank of England MPC Report & CIPS Index Figures

The Bank of England’s Monetary Policy Committee (MPC) report was released yesterday, with the central bank now forecasting a stronger outlook for GDP growth and inflation. The MPC is predicting a 7.25% rise in GDP in 2021 and voted unanimously to hold its key interest rate at 0.1%. The Government has flagged further insolvency reform as part of the federal budget, offering small businesses further protection. Also covered are some figures from the closely followed Chartered Institute of Procurement & Supply (CIPS) index on the outlook for growth. UK construction firms reported a strong increase in activity as coronavirus restrictions continue to ease.