Exact(3)
The central bank is expected to provide its next round of forecasts for inflation and other economic indicators in November.
Reports were circulating last night that the IMF will upgrade its estimate of GDP growth in 2014 to 2.4 per cent, having estimated in its October round of forecasts that growth will come in at just 1.9 per cent.
In contrast with the dovish thrust of much of the latest round of forecasts the MPC did say that spare capacity in the domestic economy was now almost entirely used up and that what remained was likely to be eliminated "during the course of the year".
Similar(5)
Lee cautioned, however, that the poor fourth-quarter results "could trigger a round of forecast cuts, which is one of the short-term risks that we have been highlighting".
The council only waited, he said, to see the bank's next round of economic forecasts.
[C4.] Profit Concerns Weigh on Stocks Stock prices fell sharply after another round of dismal forecasts from corporations.
Stock prices fell sharply yesterday, pulled down by the technology sector, after another round of dismal forecasts from corporate America.
Some analysts said yesterday's gains reflected little more than momentary excitement that would abate as companies prepared for another round of earnings forecasts that are expected to be disappointing.
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