CITY VIEWS: ARE YOU WORRIED THAT THE BANK GOT ITS FORECASTS SO BADLY WRONG?

MATTHEW KING | LLOYD’S BROKER

“I think it would be much worse if the situation changed and the Bank carried on being bullish regardless ?– it’s much better that it is prepared to revise these estimates. Also, they are just forecasts, the Bank does not say this is what will definitely happen.”

JAMES COLERIDGE | RSA

“It is very difficult to predict anything too accurately at the moment with the climate being so volatile. The rest of Europe is having a major impact on our economy, as is the news coming out of the US, and the impact of the government’s austerity measures is yet to be seen.”

DANNY YIP | LLOYDS BANKING GROUP

“The Bank is now being realistic. Initially when we saw positive growth, everyone jumped on the recovery bandwagon. But at least now we are prepared for the worst – it is a sign of transparency that the Bank is ready to revise down its forecasts, not one of weakness.”