facebook
twitter
rss
account
search
search
 

Bank of England more optimistic about 2014

Feb. 12, 2014 at 4:46 PM   |   Comments

LONDON, Feb. 12 (UPI) -- The Bank of England said Wednesday that the British economy was poised to grow 3.4 percent in 2014, significantly faster than its previous prediction.

In November, the BOE predicted the gross domestic product would grow 2.8 percent this year, the Wall Street Journal reported.

The BOE accelerated other projections, as well. The central bank forecast the unemployment to drop to 7 percent this year, more than two years ahead of a forecast made in August, the Journal said.

In August, the central bank said policymakers would use 7 percent unemployment as a guidance for raising interest rates, which have been set at historic lows to keep lending affordable during the economic recovery.

© 2014 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended UPI Stories
Most Popular
1
Norways Kongsberg to demo missile for U.S. Navy Norways Kongsberg to demo missile for U.S. Navy
2
Pizza Hut hoping the "Skinny Slice" will mean big bucks
3
E-3 Sentry aircraft tipped for digital cockpit, avionic systems makeover E-3 Sentry aircraft tipped for digital cockpit, avionic systems makeover
4
Tony Hayward: Kurdish oil sector open for business Tony Hayward: Kurdish oil sector open for business
5
Saab producing vehicle protection system for unidentified customer Saab producing vehicle protection system for unidentified customer
Trending News
Video
x
Feedback