- It is inevitable GDP will be subdued while interest rates are doing their job to bring down inflation
- The big reductions in business taxation mean the economy is now well placed to start growing again
They still sound confident enough that higher price pressures will eventually pass. And once that happens, the BOE can start rate cuts and the economy can get back on the recovery path and rebound as it should. The question is, are things really going to play out as straightforward as that?
