GDP is forecast to grow by nearly 2 per cent this year and in 2019

Key points

• GDP is forecast to grow by nearly 2 per cent this year and in 2019. Our forecasts have been revised higher since November.
• Annual consumer price inflation peaked at 3 per cent in the final quarter of 2017 and is forecast to ease back to the target rate of 2 per cent over the next eight quarters.
• We expect the Bank of England to continue normalisation by raising Bank Rate in May by 25 basis point steps and every six months after that until the policy rate reaches 2 per cent.