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At a glance …

The UK economy

Published online by Cambridge University Press:  26 March 2020

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Abstract

  • • Base rates will fall to S per cent by the start of 2000 and to below 4 per cent in 2001, the lowest for almost half a century.

  • • Inflation (RPI all items) will drop to 1.2 per cent in the final quarter of this year; excluding mortgage interest payments, inflation will decline to 2.1 per cent, below the government's 2.5 per cent target.

  • • The manufacturing sector is now expected to contract by 1.5 per cent in 1999.

  • • We continue to forecast growth of 1 per cent for the whole economy.

  • • Sterling is now projected to trade at 1.36 euros to the pound (equivalent to DM2.65) from 2001 in order to pave the way for entry into EMU; this rate would amount to a 5 per cent overvaluation.

Type
Articles
Information
National Institute Economic Review , Volume 167 , January 1999 , pp. 2
Copyright
Copyright © 1999 National Institute of Economic and Social Research

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