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Imf Downgrades Uk Economic Growth

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http://news.bbc.co.uk/1/hi/business/7545447.stm

The International Monetary Fund (IMF) has cut its forecast for UK economic growth over the next two years.

The IMF predicted the UK would grow by 1.4% in 2008 and 1.1% in 2009, down from the 1.8% for 2008 and 1.7% for 2009 that it predicted in July.

It said inflation at 3.8% was higher than expected, and inflation expectations were rising even as as economic activity was slowing.

That, it said, meant the Bank of England had little room to cut rates.

The IMF growth forecast for 2009 is substantially below the official forecast of the UK government, which is still expecting growth to pick up to around 2.5% next year, and even lower than the consensus projections by independent forecasters of 1.4% growth.

Seem to remember the IMF was the prediction being wheeled out recently. Now they've slashed their forecast, and 2009 is looking grim.

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IMF forecast for the UK gets grimmer by the month, the drip drip feed of bad figures! Look at growth estimates 12 months pevious... Thank god we don't have a budget defict calculated at 2.5% growth..oh hang on a minute...

You can arrange all the 3 year pay deals you want, but the last people GB wants to fook over right now is the police, thier the only buggers stopping his useless **** getting sent to the tower!

And all the cheap CSO's in the uk aint gunna be happy to line up against that very angry mob without some serious overtime, he could draft in the army, but I am guessing they aren't all that happy either? being repo'd on mass and away from thier familys, under equipped and fighting pointless wars.

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http://news.bbc.co.uk/1/hi/business/7545447.stm

Seem to remember the IMF was the prediction being wheeled out recently. Now they've slashed their forecast, and 2009 is looking grim.

They have a go every month, and this time it's gone down by 0.3%. In a month.

It seems they are little better than someone who forecasts the weather for the next day by looking out of the window 3 days in a row and extrapolating. Probably bound to be close. Not impressive really is it?

Govt still going for 2.5% I see. :lol::lol:

:blink:

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Hey on the bright side those guys at S&P still rate UK debt at AAAAAAAAA+ with bells and wistles on it, buy it now mr pension fund, the uk tax payer has so much money they don't know what to do with it! don't wanna miss that boat?

Edited by Yoss

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Hey on the bright side those guys at S&P still rate UK debt at AAAAAAAAA+ with bells and wistles on it, buy it now mr pension fund, the uk tax payer has so much money they don't know what to do with it! don't wanna miss that boat?

talking of ratings

"Northern Rock PLC Ratings Unaffected By Significant Loss For First Half Of 2008

Aug 6 2008

Standard & Poor's Ratings Services said today that its ratings and outlook on U.K. bank Northern Rock PLC (A/Positive/A-1) are unchanged following yesterday's announcement of the bank's loss for the first half of 2008.

Since Northern Rock's nationalization in February 2008, the ratings have primarily reflected its 100% ownership by the U.K. government (United Kingdom; AAA/Stable/A-1+), and the bank's earnings performance has become a less significant factor. We do not equalize the ratings on Northern Rock with the U.K. sovereign ratings because the bank is a commercial organization with no public policy role, and the government intends to sell it in future."

http://www.creditman.biz/uk/members/news-v...chksrc=NNow4251

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  • 395 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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