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May 21 2021, 07:00 IST/BST
Our new forecast is for UK GDP growth of 6.7% in 2021 and 5.7% in 2022, above the current consensus, reflecting the latest data showing a very sharp bounce-back in activity in Q2 2021. However, the substantial fiscal stimulus in the March Budget will contribute to strong growth in 2021. We expect inflation will hit 3% by end-2021, remaining above the 2% target into 2022.