of the financial crisis, 2008 ish? yes. and they have said they will stay about that level for quite a while, so the idea that interest rates are here to stay is here to stay. and the big picture message is not great, it s pretty bleak, but they are kind of saying things might not be as bad as had been predicted. yes, that s where the graphs come in. we will now try and paint graphs with words, but they looked at inflation, which they do in all these reports and actually, they are now suggesting that inflation will fall faster than they predicted when they lasted this back in november. politically, that helps rishi sunak, showing his first pledge of halving inflation by the end of the year is comfortably going to be met on this trajectory. yes, and voters and lots of people will say hurrah to that. as far as the politics is concerned, there will be, as there was when he announced this, a slight scepticism about the extent to which he is actually responsible for that. it is qu
it is questionable, though chancellorjeremy hunt made the point in the context of the strikes that maintaining, ensuring wages are not contributing too much to inflation is important. of course, you could move quite a bit from a government perspective on the payment of those who are striking without it being inflation busting. and the other graph from the bank of england today is about the coming recession, which they say will be shallower and shorter than they were hoping for, and again, that means rishi sunak will probably meet his second pledge, that the economy will be growing again by the end of the year. though i dojust wonder, the economy still looks pretty stagnant and flat in the next year, and that has its own problems. slightly different from the economy shrinking, but still doesn t mean you can then do loads? quite, and you look at the predictions ahead, as far as the economy is concerned, and looking at the graphs today from the bank of england, you get to 2026 before the