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Economy is about to surge, says think tank

Posted on 2 August 2017

Britain’s economy will surge back to life in the next six months following its slow start this year, a leading forecaster has predicted, prompting the Bank of England to raise interest rates next spring – more than a year earlier than its previous projection.

The National Institute of Economic and Social Research (NIESR) said a boom in exports after the fall in the pound and a return to bumper wage rises next year would be enough to increase GDP growth to almost two per cent and convince the central bank to increase the cost of borrowing, the Guardian has reported.

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