Wednesday, 8 August 2012
The Bank of England has today announced that the UK's economy will come to a grinding halt and have 0% growth this year.
The forecast is a downgrade from an appauling 0.8% mentioned in May. With the UK in stagnation Govennor Sir Mervyn King said the UK is navigating through rough waters and, "storm clouds continue to roll in from the euro area".
"Unlike the Olympians who have thrilled us over the past fortnight, our economy has not yet reached full fitness", he added.
Inflation is falling and set to fall further while unemployment goes down. The economy is showing some signs of strength but it needs to be hitting all parameters.
It adds to Coalition woes at a time of strained relations. The mission is sounds simple. If Cameron and Osbourne don't seem to turn the economy around back to growth, they can only face defat at the ballot box.Tweet Follow @theblueguerilla