The Bank of England's Forecasts Are Crap

No central bank is perfect but for forecasting its key metric, the Bank of England is at the bottom of the pile.

The three-century-old institution has the worst track record for predicting inflation in its home economy. https://t.co/3wN29lQg8Y

— Ken Frost (@ken_frost) November 28, 2018

UK Economic Forecasts

HM Treasury consensus of latest UK Economic forecasts from City & Non-city Forecasters. Average UK GDP forecast for 2018 is 1.4% but the most optimistic is Liverpool Macro Research +1.9% & most pessimistic is Fathom Consulting at only +0.7%. https://t.co/eA1sScH0VB pic.twitter.com/Dvx4kT2RBY

— Noble Francis (@NobleFrancis) June 21, 2018

Whenever I see the words "forecast" and "consensus" in the same sentence I immediately reach for my sick bag!

Reality will prove both the forecast and the consensus lobbies wrong!