Forecasters warn UK “already back in recession”

Posted on January 22, 2012

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written for the New Statesman – words by Robert Pollard 

Interest rates set to remain low until 2016 as fears of double-dip recession continue to grow.

A leading economic think tank has claimed that growth will remain so low for the next four years that the current base rate of 0.5 per cent will remain until 2016. Their dire growth figures suggest that the Bank of England has little choice but to keep interest rates at their current level.

The Centre for Economics and Business Research (CEBR) also claims that Britain has already fallen back into recession, with the British economy shrinking over the last 3 quarters of 2011 and continuing to do so.

The Ernst and Young ITEM Club concur with the findings made by the CEBR after their forecasts have shown Britain is likely in recession.

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Posted in: Politics