U.K. Ready For V-Shaped Recovery – So Says BoE
As the old joke goes economists make forecasts in order to make astrologers look good. And it is true that anything other than the most general handwaving over what the future is going to be more than a couple of years out is a waste of time. A macroeconomic forecast of that is at least. If we find people violating the more basic microeconomic rules then it’s much easier for us to insist that it won’t work out well.
So, macroeconomic forecasts about the medium term futu…